VTVT - vTv gains 13% on patent win for potential brain tumor pill
2023-05-24 09:24:44 ET
vTv Therapeutics ( NASDAQ: VTVT ) added ~13% in the pre-market Wednesday after announcing that its partner Cantex Pharmaceuticals received a U.S. patent that covers claims related to experimental brain tumor therapy azeliragon.
In June 2021, Cantex reached an agreement with vTv ( VTVT ) to obtain exclusive global rights to develop and commercialize azeliragon, a once-daily pill targeted at conditions including brain cancer and COVID-19.
The patent issued by the U.S. Patent and Trademark Office covers its use as a treatment for glioblastoma multiforme (GBM), an aggressive and fast-spreading tumor in the brain.
Cantex plans to begin FDA-approved clinical trials to study azeliragon in combination with stereotactic radiosurgery for newly diagnosed glioblastoma and brain metastases.
Early this year, the FDA granted Orphan Drug Designation to azeliragon for the treatment of glioblastoma.
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vTv gains 13% on patent win for potential brain tumor pill