U.S. Food and Drug Administration Approves Orphan Drug Designation For Immix Biopharma NXC-201 As A Treatment For Multiple Myeloma
Portfolio Pulse from Happy Mohamed
The U.S. Food and Drug Administration (FDA) has granted Orphan Drug Designation (ODD) to Immix Biopharma's NXC-201 for the treatment of multiple myeloma. The designation qualifies NXC-201 for 7 years of U.S. market exclusivity after approval, tax credits for qualified clinical testing, and a waiver of the Prescription Drug User Fee. The multiple myeloma market, valued at $13.9 billion in 2017, is expected to reach $28.7 billion in 2027.
August 23, 2023 | 12:39 pm
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Immix Biopharma's NXC-201 has received FDA Orphan Drug Designation for the treatment of multiple myeloma. This could lead to significant financial benefits and market exclusivity, potentially boosting the company's stock in the short term.
The FDA's Orphan Drug Designation for NXC-201 could lead to significant financial benefits for Immix Biopharma, including 7 years of U.S. market exclusivity, tax credits for qualified clinical testing, and a waiver of the Prescription Drug User Fee. This could potentially boost the company's stock in the short term as it represents a major step forward in the development and potential profitability of NXC-201.
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RELEVANCE 100