- Inhibrx ( NASDAQ: INBX ) on Monday said the European Commission had granted an orphan drug designation to the biotech's antibody INBRX-109 for the treatment of chondrosarcoma, a type of bonce cancer.
- The European Commission's approval was based on a positive recommendation by the European drug regulator, the European Medicines Agency (EMA), INBX said.
- The EMA's orphan designation is given to medicines developed for rare, life-threatening diseases.
- INBX last week reported Q2 results that missed estimates on both top and bottom line.
- Inhibrx ( INBX ) stock earlier closed +0.9% at $24.68.
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Europe drug regulator grants orphan designation to Inhibrx's drug for type of bone cancer