Aptorum Shares Rise After FDA Orphan Drug Tag For Repurposed Compound For Pediatric Cancer

The FDA has granted Orphan Drug Designation to Aptorum Group Limited APM SACT-1, a repurposed small molecule compound for Neuroblastoma.

• Aptorum Group plans to file an Investigational New Drug Application (IND) to commence a Phase 1b/2a trial for SACT-1 in 2022.
• Neuroblastoma is one of the most prevailing solid tumor cancers in children, representing 8% - 10% of all childhood tumors, accounting for around 15% of all cancer-related deaths in the pediatric population.
• Aptorum received its first US patent regarding SACT-1 repurposed drug for various cancers earlier this week.
• The SACT-1 invention provides a composition and method for treating or preventing the growth of cancerous tumors and/or delaying the onset of cancer from tumor-initiating cells. 
• Price Action: APM shares are up 30.3% at $1.59 during the premarket session on the last check Thursday.