RFL - Rafael shares rise 7% after EMA orphan drug status for devimistat to treat Burkitt's lymphoma

Rafael Pharmaceuticals (NYSE:RFL) announces that the European Medicines Agency (EMA) has granted orphan drug designation to CPI-613 (devimistat) for the treatment of Burkitt’s lymphoma. Shares up more than 7% premarket. CPI-613 (devimistat) is a first-in-class clinical lead compound of Rafael, which targets enzymes that are involved in cancer cell energy metabolism and are located in the mitochondria of cancer cells. The latest orphan drug designation is the third granted for devimistat by the EMA, following designations for pancreatic cancer and acute myeloid leukemia (AML). The U.S. FDA has also granted orphan drug designation for devimistat in seven indications in the United States, including in Burkitt's lymphoma. Rafael shares dived 70% after devimistat failed to meet the main goal in a late-stage adenocarcinoma trial, in October.

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Rafael shares rise 7% after EMA orphan drug status for devimistat to treat Burkitt’s lymphoma