Theriva Biologics Inc (AMEX:TOVX) shares are trading higher Wednesday after the FDA granted orphan drug designation to VCN-01.

What To Know: VCN-01 is Theriva's systemic, selective, stroma-degrading oncolytic adenovirus for the treatment of pancreatic cancer. 

VCN-01 is being evaluated in combination with standard-of-care chemotherapy as a first line therapy for patients with pancreatic ductal adenocarcinoma. The FDA previously granted orphan drug designation to VCN-01 for the treatment of retinoblastoma.

"The growing clinical data that underscore VCN-01's multiple modes of action and the compelling clinical outcomes observed in Phase 1 studies of VCN-01 in combination with chemotherapy or immunotherapy in patients with PDAC and other solid tumors, give us confidence that VCN-01 has the potential to address this unmet medical need," said Steven Shallcross, CEO of Theriva Biologics. 

Theriva is a clinical-stage company developing therapeutics designed to treat cancer and related diseases in areas of high unmet need.

See Also: What's Going On With Walgreens Boots Alliance Stock Wednesday

TOVX Price Action: Theriva shares were up 43.8% at $1.18 at the time of publication, according to Benzinga Pro.

This illustration was generated using artificial intelligence via MidJourney.