Cardiol Therapeutics Says FDA Granted Orphan Drug Designation For Its Lead Drug Candidate For Treatment Of Pericarditis
Portfolio Pulse from Benzinga Newsdesk
Cardiol Therapeutics announced that the FDA has granted Orphan Drug Designation to its lead drug candidate for the treatment of pericarditis. This designation is significant as it provides various benefits including tax credits, eligibility for market exclusivity, and assistance in the drug development process.
February 15, 2024 | 12:30 pm
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Cardiol Therapeutics' lead drug candidate received Orphan Drug Designation from the FDA for the treatment of pericarditis, indicating a positive development in its drug development process.
The FDA's Orphan Drug Designation is a critical milestone for pharmaceutical companies, especially those in the biotech sector. It not only provides financial incentives but also enhances the drug's market potential by offering market exclusivity upon approval. For Cardiol Therapeutics, this designation likely boosts investor confidence and could positively impact the stock price in the short term due to the increased likelihood of the drug's successful development and commercialization.
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