XOMA - FDA grants orphan drug status to XOMA's pancreatic cancer treatment NIS793

syahrir maulana/iStock via Getty Images XOMA (XOMA) announces that NIS793 in combination with standard of care chemotherapy has been granted Orphan Drug Designation in pancreatic cancer by the U.S. FDA. NIS793 is a potential first in class novel antibody specific for Transforming Growth Factor Beta ((TGF?)). An Orphan Drug status grants special status to a drug that treats a rare disease or condition and provides companies certain benefits to encourage the continued development of medicines that bring novel solutions to patients with these severe diseases. Under the terms of the 2015 agreement between XOMA and Novartis, XOMA has the potential to earn up to $445M in additional milestone payments. Upon receipt of regulatory approval to commercialize NIS793, XOMA will receive tiered royalties on any net product sales that range from the mid-single digits to the low double digits. Shares up nearly 6% premarket.

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FDA grants orphan drug status to XOMA's pancreatic cancer treatment NIS793