Noxopharm’s Shares Soared 29% Upon US FDA Investigational New Drug (IND) Approval for Veyonda®

  • Feb 23, 2020 AEDT
  • Team Kalkine

 Noxopharm (ASX: NOX) has received FDA IND approval for a Phase 1b study involving Veyonda® in a combination therapy with doxorubicin in patients with soft tissue sarcomas.

  • This IND approval, based on the pre-clinical and clinical data presented to the FDA, validates the clinical potential of Veyonda®;
  • Veyonda® has met the very high standard of being a safe and well tolerated drug, set by FDA, stated Noxopharm CMO, Gisela Mautner;
  • As per Noxopharm’s CEO, Dr Kelly, the IND approval for a less common type of cancer represents Noxopharm’s goal of accomplishing a strategic partnering arrangement, significantly boosting its overall commercial objective to bring Veyonda® to market as a major new drug for late-stage cancer treatment;

On 21 February 2020, the NOX stock settled at a price of 0.305, up 29.787% on 20 February 2020.

 

 

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