Terns Pharmaceuticals Secures FDA Orphan Drug Designation For TERN-701 For Treatment Of Chronic Myeloid Leukemia
Portfolio Pulse from Benzinga Newsdesk
Terns Pharmaceuticals has received FDA Orphan Drug Designation for TERN-701, aimed at treating Chronic Myeloid Leukemia. TERN-701 is a BCR-ABL tyrosine kinase inhibitor currently in Phase 1 clinical trials, with interim results expected in the second half of 2024.
March 11, 2024 | 8:06 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Terns Pharmaceuticals has been granted FDA Orphan Drug Designation for its drug TERN-701, targeting Chronic Myeloid Leukemia. This designation could provide benefits such as tax credits and market exclusivity upon approval.
The FDA Orphan Drug Designation is a positive development for Terns Pharmaceuticals, indicating regulatory support and potential for market exclusivity. This could positively influence investor sentiment and the stock price in the short term, given the importance of TERN-701 in the company's pipeline.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100