Hana Biosciences receives fast track designation from FDA
Hana Biosciences Inc. shares are (Nasdaq: HNAB) roaring upward since the biopharmaceutical company reported that its drug Marqibo has received fast track designation from the U.S. Food and Drug Administration.
Hana said its drug Marqibo, which is used for the treatment of adult patients with Philadelphia chromosome negative acute lymphoblastic leukemia (ALL) in second relapse or who have failed two lines of prior therapy, is eligible for Fast Track designation because there is an unmet medical need in adult patients with the disease.
Earlier this year, Marqibo was also granted Orphan Drug Designation by the FDA for the treatment of adult ALL. Orphan Drug Designation is a program dedicated to the development of rare diseases.
ALL is a form of leukemia, characterised by overproduction and continuous multiplication of malignant and immature white blood cells in bone marrow. The disease could be fatal if left untreated, as it quicly spreads into the bloodstream and other vital organs. Approximately 4,000 cases of ALL are diagnosed annually in the United States.
Shares of Hana jumped 20.58%, or $0.28, to $1.64 in mid-day trading.
