Imugene (ASX:IMU) secured an orphan drug designation from the US Food and Drug Administration for Vaxinia, a treatment candidate for bile tract cancer, according to a Wednesday filing with the Australian bourse.

The orphan drug designation will allow the drugmaker to receive tax credits, waiver of specific administration fees, and a seven-year market exclusivity for Vaxinia, the filing said.

Imugene's shares rose 4% in recent Tuesday trade.

Price (AUD): $0.05, Change: $+0.0020, Percent Change: +4.17%