Palvella Therapeutics (PVLA) said Tuesday the US Patent and Trademark Office has granted a fifth patent for its product candidate Qtorin 3.9% rapamycin anhydrous gel in treating microcystic lymphatic malformations.
Qtorin rapamycin has received multiple US Food and Drug Administration designations, including Breakthrough Therapy, Orphan Drug, and Fast Track, for treating microcystic LMs, and if approved, it could become the FDA-approved therapy for this rare genetic skin disease, granting seven years of orphan drug market exclusivity in the US.
Shares of Palvella Therapeutics were up 0.4% in recent Tuesday trading.
Price: 25.41, Change: -0.04, Percent Change: -0.16
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