Why Kintara Therapeutics Shares Are Skyrocketing Today

Kintara Therapeutics Inc KTRA shares are trading higher by 28.6% to $0.24 after the FDA granted Fast Track Designation to the company’s VAL-083.

Fast Track is a process designed to facilitate the development, and expedite the review of drugs to treat serious conditions and fill an unmet medical need.

"We believe Fast Track Designation is indicative of VAL-083's potential to improve outcomes for patients with GBM, the most aggressive form of brain cancer," stated Robert E. Hoffman, President and CEO of Kintara. 

"We look forward to announcing top-line data from the international registrational phase 2/3 GBM AGILE Study around the end of calendar year 2023. Fast Track Designation allows us to work closely with the FDA and may expedite our commercial launch of VAL-083, if approved."

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Kintara Therapeutics is engaged in the development of novel cancer therapies for patients with unmet medical needs.

According to data from Benzinga Pro, Kintara Therapeutics has a 52-week high of $2.85 and a 52-week low of $0.14.