India, April 8 -- Plus Therapeutics, Inc. (PSTV) said on Wednesday that the U.S. Food and Drug Administration has granted Orphan Drug Designation to REYOBIQ for the treatment of pediatric malignant gliomas, a group of rare and aggressive brain tumors.
The company's shares rose more than 7% in pre-market trading after closing at $2.92 on Tuesday.
The designation provides incentives such as seven years of market exclusivity upon approval, tax credits for eligible clinical trial costs, and waivers of certain regulatory fees.
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The latest designation builds on recent regulatory and clinical progress for REYOBIQ. The company has completed a Type B meeting with...