ABVC's New Horizon For Oncology And Hematology Aims At Cancer Market
Portfolio Pulse from Benzinga Newsdesk
ABVC BioPharma, Inc. (NASDAQ:ABVC) is advancing in the oncology and hematology fields with its development of combination therapy for cancer treatment and immunity booster dietary supplements, both derived from Maitake Mushroom. The company has initiated marketing and sales of these dietary supplements in the US, Canada, and Asia, and expects revenue generation through its CDMO subsidiary, BioKey, Inc. The US FDA has approved four INDs for various cancer treatments. ABVC is set to begin Phase II clinical trials to study the efficacy and safety of its drug formulation as a combination therapy for oncology. The company's R&D efforts have been recognized with FDA approvals, and it is working on co-development projects with Rgene Corporation. The global markets for cancer therapeutics, dietary supplements, pharmaceutical CDMO, and botanical drugs are projected to grow significantly by 2032.
February 27, 2024 | 1:45 pm
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ABVC BioPharma is progressing in cancer therapy and dietary supplements, with FDA approvals for INDs and expected revenue growth from its CDMO subsidiary, BioKey, Inc.
ABVC BioPharma's recent FDA approvals for INDs and the initiation of Phase II clinical trials for its cancer treatment combination therapy are significant milestones that could positively impact the company's stock price in the short term. The marketing and sales of dietary supplements in multiple regions, along with expected revenue generation through its subsidiary BioKey, Inc., further support a positive outlook. The company's alignment with the growing global markets for cancer therapeutics and dietary supplements suggests potential for significant growth.
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