By Sabela Ojea

Puma Biotechnology said the Food and Drug Administration granted orphan drug designation to its alisertib drug, aimed at treating small cell lung cancer, an aggressive of the disease.

The biopharmaceutical company said it is now working to begin the Phase II trial of alisertib.

Orphan drug designations are granted to drugs or biologics used for the treatment, prevention or diagnosis of a rare disease that affects less than 200,000 people in the U.S.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

September 21, 2023 16:40 ET (20:40 GMT)

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