Pieris Pharmaceuticals' Merger Partner Palvella Therapeutics Receives FDA Office Of Orphan Products Development Grant Of Up To $2.6M For Phase 3 SELVA trial of QTORIN 3.9% Rapamycin Anhydrous Gel For Microcystic Lymphatic Malformations
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Palvella Therapeutics, the merger partner of Pieris Pharmaceuticals, has received a grant of up to $2.6 million from the FDA's Office of Orphan Products Development. This grant will support the Phase 3 SELVA trial of QTORIN 3.9% Rapamycin Anhydrous Gel for treating Microcystic Lymphatic Malformations.
October 03, 2024 | 11:42 am
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POSITIVE IMPACT
Pieris Pharmaceuticals' merger partner, Palvella Therapeutics, received a $2.6M FDA grant for a Phase 3 trial. This development could positively impact Pieris due to the potential success of the trial and the merger.
The FDA grant to Palvella Therapeutics is significant as it supports a Phase 3 trial, which is a critical stage in drug development. As Palvella is merging with Pieris Pharmaceuticals, the success of this trial could enhance the value of the merger, potentially boosting Pieris' stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80