FDA ap­proves can­cer ra­di­a­tion drug Aze­dra, send­ing Prog­en­ics stock north

Prog­en­ics of­fi­cial­ly got a thumbs up from the FDA on its can­cer ra­di­a­tion ther­a­py Aze­dra, send­ing the New York com­pa­ny’s stock climb­ing Mon­day af­ter­noon. The drug was ap­proved to treat rare and ex­treme­ly lethal adren­al gland can­cers for which there was no ap­proved treat­ments. Un­til now.

Specif­i­cal­ly, Aze­dra will treat pheocro­mo­cy­toma and para­gan­glioma, neu­roen­docrine tu­mors that form from the same type of tis­sue. The five-year sur­vival rate of un­re­sectable cas­es can be as low as 12%. This new drug is a ra­dio­ther­a­py that goes af­ter these tu­mors with a high, specif­i­cal­ly tar­get­ed dose. The FDA gave it an or­phan drug des­ig­na­tion, fast track sta­tus, and break­through ther­a­py des­ig­na­tion.

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Senior Associate

Alexandria Real Estate Equities

Durham, NC, USA