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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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.
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