TC Biopharm (Holdings) Plc (TCBP) stock price surged in the current market after announcing they have got a drug status from FDA. TCBP stock price is $1.47, gaining more than 47.62% from yesterday’s closing price. TCBP stock closed at $1.00 at the end of the last trading session. TCBP stock volume traded in the previous trading session was around 2.01 million shares.
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TCBP surged after getting Orphan Drug Status
OmnImmune has been designated as an orphan medicine by the Food and Drug Administration for the treatment of acute myeloid leukaemia (AML). After reviewing the outcomes of the Phase 1b/2a trial in relapsed/refractory acute myeloid leukaemia patients, the FDA approved the company’s request for Orphan Drug Designation.
Orphan drugs status is medications that the Food and Drug Administration approves to treat uncommon diseases that are not often seen. Among other perks, the categorization provides for a seven-year exclusive marketing window after the approval of the treatment, as well as certainly reduced application costs and tax benefits, among other advantages.
TCBP CEO’s Remarks
Bryan Kobel, CEO of TC BioPharm, described this as a new milestone for the company, further enhancing our position as a leader in Gamma Delta medicines for cancers. For allogeneic gamma delta usage in AML, we now have exclusive marketing rights for seven years after the medicine’s orphan drug classification clearance. This further protects our main product in commercial settings beyond our already robust intellectual property. To treat patients with AML in the near future, OmnImmune is progressing in the Phase 2b/3 study.
TC Biopharm (Holdings) Plc (TCBP) is really excited after getting an orphan drug status for its treatment. It will help them to roll out the treatment on a mass level. Investors are responding positively to the news, and the TCBP stock price surged in the current market due to it.