By Kailyn Rhone
Verastem Oncology said its treatment for recurrent low-grade serous ovarian cancer has been given priority review by the Food and Drug Administration.
The new drug application for the treatment in adults combines two drugs, avutometinib and defactinib.
The FDA's decision is expected by June 30, 2025. If approved, it would be the first treatment specifically for this type of cancer, the company said.
"We're taking an important step forward in addressing a condition that has long been overlooked," said Dan Paterson, president and chief executive officer of Verastem Oncology, "We look forward to working with the FDA during its review process and preparing for a commercial launch in mid-2025."
Shares soared 21% after hours to $4.46. For the year, shares are down by more than 50 percent.
Write to Kailyn Rhone at kailyn.rhone@wsj.com
(END) Dow Jones Newswires
December 30, 2024 17:20 ET (22:20 GMT)
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