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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