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Cellectar Biosciences Stock Jumps 27% Following FDA's Rare Pediatric Designation
Cellectar Biosciences stock jumped 27% after receiving Rare Pediatric Disease Designation from the Food and Drug Administration for its iopofosine I 131 treatment targeting pediatric glioma.
- Cellectar Biosciences secured Rare Pediatric Disease Designation from the Food and Drug Administration for its iopofosine I 131 treatment, aimed at relapsed pediatric high-grade glioma.
- This designation emphasizes the importance of addressing the survival rate of children with glioma, a severe cancer affecting adolescents and young adults.
- Previously, the Food and Drug Administration granted Orphan Drug Designation for iopofosine I 131, highlighting its potential in treating this devastating neoplasm.
Why It Matters
This development is crucial as it could potentially improve treatment options for pediatric patients suffering from high-grade glioma, a disease with historically low survival rates. The Rare Pediatric Disease Designation may also accelerate the treatments approval process, benefiting affected families.