Bulletin
Investor Alert

Market Pulse Archives

Dec. 26, 2017, 7:33 a.m. EST

DelMar Pharmaceuticals' stock rockets after cancer treatment granted 'Fast Track' designation

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    iShares Biotechnology ETF (IBB)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Tomi Kilgore

Shares of DelMar Pharmaceuticals Inc. rocketed 40% in premarket trade Tuesday, after the biopharmaceutical company said its lead-product cancer treatment, VAL-083, was granted "Fast Track" designation by the Food and Drug Administration. "Fast Track" designation helps expedite the review of drugs showing promise in treating life-threatening diseases. DelMar's VAL-083 is a potential new treatment for recurrent glioblastoma (rGBM), a cancer of the brain and spinal cord. "We are enthusiastic about the potential of VAL-083 to offer a meaningful clinical benefit to patients with rGBM and for the opportunity to expedite the regulatory process through the FDA's Fast Track program," said Interim Chief Executive Saiid Zarrabian. The stock had plunged 74% year to date, while the iShares Nasdaq Biotechnology ETF /zigman2/quotes/206189322/composite IBB +3.20% had rallied 21% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +2.47% had gained 20%.

/zigman2/quotes/206189322/composite
US : U.S.: Nasdaq
$ 119.50
+3.70 +3.20%
Volume: 2.20M
May 27, 2022 4:15p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,158.24
+100.40 +2.47%
Volume: 2.17B
May 27, 2022 5:49p
loading...

This Story has 0 Comments
Be the first to comment
More News In
Industries

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.