Lyell Immunopharma Receives FDA Orphan Drug Designation For LYL845 For The Treatment Of Melanoma
Portfolio Pulse from Benzinga Newsdesk
Lyell Immunopharma, Inc. (NASDAQ:LYEL) has received FDA Orphan Drug Designation for LYL845, a product candidate for the treatment of stage IIB-IV melanoma. The designation provides certain incentives, including tax credits for qualified clinical trials and potential seven-year marketing exclusivity upon FDA approval. LYL845 is currently being investigated in a Phase 1 clinical trial in patients with advanced melanoma, non-small cell lung cancer, and colorectal cancer. Initial data from the trial are expected in 2024.
November 09, 2023 | 10:22 pm
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Lyell Immunopharma's LYL845 has received FDA Orphan Drug Designation, which could provide the company with certain incentives, including potential seven-year marketing exclusivity upon FDA approval. This could potentially boost the company's revenues and profitability in the future.
The FDA Orphan Drug Designation is a significant regulatory milestone that could provide Lyell Immunopharma with certain incentives, including potential seven-year marketing exclusivity upon FDA approval. This could potentially increase the company's revenues and profitability in the future, especially if LYL845 proves to be effective in treating melanoma and other solid tumors. Therefore, this news is likely to have a positive impact on LYEL's stock price in the short term.
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