ALLO - Cellectis rides on FDA's Fast Track tag for Allogene's CAR-T therapy

French clinical-stage biotechnological company, Cellectis (CLLS +9.0%) is trading higher for the fourth consecutive session on Friday as the market reacts to the Fast Track designation granted by the U.S. Food and Drug Administration (FDA) for its partner Allogene Therapeutics (NASDAQ:ALLO). Allogene (ALLO) shares surged on Thursday after the company announced that the FDA issued the designation for ALLO-316, its first AlloCAR T solid tumor candidate for the treatment of patients with a certain type of cell renal cell carcinoma (RCC). According to a licensing deal signed with Cellectis (NASDAQ:CLLS) in 2019, Allogene (ALLO) has exclusive rights for fifteen therapeutic candidates, including ALLO-316. The Fast Track designation is offered by the FDA to accelerate the development and review of drugs targeted at serious conditions with an unmet medical need. It facilitates developers to conduct frequent communications with the regulator on plans for clinical studies. If certain criteria are met, such programs

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Cellectis rides on FDA’s Fast Track tag for Allogene’s CAR-T therapy