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Grand Pharma's Cancer Diagnostic Candidate Gets FDA Fast Track Status; Shares Jump 5%

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Grand Pharmaceutical's (HKG:0512) experimental cancer diagnostic candidate GPN01530-2 has received fast track designation from the U.S. Food and Drug Administration.

The designation allows for more frequent discussions with the FDA and may support priority and rolling review of a future drug application, the pharma company said in a Hong Kong bourse filing on Sunday. The candidate was previously cleared by the FDA to enter a Phase I/II clinical study for diagnosing solid tumors.

Shares of the company jumped 5% in recent trade.

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