CASI Pharmaceuticals Receives Orphan Drug Designation For Liver Cancer Drug

Shares of CASI Pharmaceuticals, Inc. (CASI) ended the day up 40%, after the company announced that it had received Orphan Drug Designation from the European Union for its liver cancer drug. The drug from the company which treats hepatocellular carcinoma - liver cancer - is known as ENMD-2076. 

In addition to receiving Orphan Drug designation for liver cancer  the company also received Orphan Drug designation from the European Union for fibrolamellar carcinoma - rare type of liver cancer. The designation which took place today would give the company's drug market exclusivity for 10 years. 

ENMD-2076 has already received Orphan Drug designation in the U.S. for the liver cancer and fibrolammellar carcinoma - FLC - indication back in 2014. In the U.S. the Orphan Drug designation gave the company 7 years of market exclusivity. CASI states that it will initiate a phase 2 trial and recruit patients in the trial who have FLC in the coming months.