By Colin KellaherShares of Immix Biopharma Inc. more than doubled on Monday after the biopharmaceutical company's lead product candidate received rare-pediatric-disease designation from the U.S. Food and Drug Administration. The Los Angeles company said the designation covers IMX-110 for the treatment of rhabdomyosarcoma, a life-threatening form of pediatric cancer. Immix is currently studying IMX-110 in a Phase 1b/2a clinical trial. Companies that FDA approval of a drug granted the rare-pediatric-disease designation receive a priority-review voucher that they can use to obtain priority review for another drug or sell to other companies. Immix shares, which rose as high as $6.31 in their trading debut on Dec. 17, were recently changing hands at $7.40, up 108% after hitting $8.68 early in the session.

Source: Wall Street Journal January 04, 2022 05:22 UTC