Why Tyme Technologies's Stock Is Trading Higher Today

Tyme Technologies TYME shares are trading higher on Monday after the company announced an orphan drug designation for its SM-88 as a potential treatment for patients with pancreatic cancer.

Tyme Technologies is a U.S.-based clinical-stage biotechnology company. The company is focused on the development and commercialization of targeted cancer therapeutics with a broad range of oncology indications for humans.

SM 88, its proprietary drug candidate compound, is a novel compound that has the potential to alter defenses to oxidative stress and increase free radical availability to the cancer cell. The company is currently conducting a Phase II trial in prostate cancer.

Tyme Technologies shares were trading up 14.29% to $1.36 at time of publication on Monday. The stock has a 52-week high of $2.04 and a 52-week low of 86 cents.