PHARMA MAR (PHMMF)

[radly]

Why the big drop today on this news?


Lurbinectedin receives Orphan Drug designation from the TGA for Small-Cell Lung Cancer in Australia


Madrid, February 19th, 2020. PharmaMar (MSE:PHM) has announced that the Australian Therapeutic Goods Administration (TGA), has designated Orphan Drug status to lurbinectedin for the treatment of Small-Cell Lung Cancer (SCLC).

On May 17th, 2017, PharmaMar and Specialised Therapeutics Asia Pte, Ltd (STA) announced an agreement to market lurbinectedin in Australia, New Zealand and in 12 Asian countries (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Papua New Guinea, Philippines, Singapore, Timor-Leste, Thailand and Vietnam).

SCLC is a very aggressive cancer that is usually diagnosed with advanced, often metastatic disease, thus limiting the role of traditional approaches and usually posing a worse prognosis when compared to other lung cancers[1]. In Australia and New Zealand, approximately 15% of lung cancers are Small Cell[2]. More than 15,000 new cases of lung cancer are recorded in the above countries every year[3].