Allogene Therapeutics shares are trading higher after the company received FDA Regenerative Medicine Advanced Therapy designation for ALLO-316 in adult patients with advanced or metastatic renal cell carcinoma.
Portfolio Pulse from Benzinga Newsdesk
Allogene Therapeutics shares rose after the FDA granted Regenerative Medicine Advanced Therapy designation for ALLO-316, a treatment for advanced renal cell carcinoma.
October 29, 2024 | 4:56 pm
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POSITIVE IMPACT
Allogene Therapeutics received FDA Regenerative Medicine Advanced Therapy designation for ALLO-316, boosting its stock price.
The FDA designation is a significant regulatory milestone that can expedite the development and review process of ALLO-316, potentially leading to faster market entry. This positive regulatory news is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100