FinancialBuzz.com’s latest The Buzz Show: Featuring Our Corporate News Recap on “Pieris Pharmaceuticals, Inc. Receives Orphan Drug Designation for Cinrebafusp Alfa”
Pieris Pharmaceuticals, Inc. (NASDAQ: PIRS) climbed over 5% in premarket trading after the company announced that the U.S. Food and Drug Administration had granted an orphan drug designation to cinrebafusp alfa, used for the treatment of HER2-high and HER2-low expressing gastric cancers.
The FDA grants the orphan drug designation to promote the development of a drug that targets a condition affecting 200,000 or fewer U.S. patients annually, providing qualifying therapies with development and commercial incentives.
Pieris is a clinical-stage biotechnology company that combines leading protein engineering capabilities and deep understanding into molecular drivers of disease to develop medicines that drive local biology to produce superior clinical outcomes for patients. Our pipeline includes inhalable Anticalin proteins to treat respiratory diseases and locally-activated bispecifics for immuno-oncology. Proprietary to Pieris, Anticalin proteins are a novel class of therapeutics validated in the clinic and by respiratory and immuno-oncology focused partnerships with leading pharmaceutical companies.
For more information, please visit: Pieris Pharmaceuticals, Inc.
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