Viracta Therapeutics Says FDA Granted Orphan Drug Designation To Nana-val For Treatment Of Nasopharyngeal Carcinoma
Portfolio Pulse from Benzinga Newsdesk
Viracta Therapeutics announced that the FDA has granted Orphan Drug Designation to its drug Nana-val for the treatment of Nasopharyngeal Carcinoma, a type of cancer that occurs in the nasopharynx.
December 12, 2023 | 1:01 pm
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POSITIVE IMPACT
Viracta Therapeutics' drug Nana-val received Orphan Drug Designation from the FDA for treating Nasopharyngeal Carcinoma, which could positively impact the company's stock in the short term.
The Orphan Drug Designation by the FDA is a positive regulatory milestone for Viracta Therapeutics, which can lead to benefits such as tax credits, grant funding, and potentially seven years of market exclusivity upon approval. This news is likely to be viewed positively by investors and could lead to an increase in the stock price in the short term due to the potential for accelerated development and approval process, as well as the financial incentives associated with the designation.
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IMPORTANCE 80
RELEVANCE 100