Australia's Chimeric Therapeutics surges on FDA's 'fast track' tag for neuroendocrine tumour drug
ReutersJun 4, 2025 1:14 AM
Shares of Chimeric Therapeutics CCU.AX rise 12.5% to A$0.005, hitting their highest level since May 29
Stock eyes strongest trading session since May 15, if gains hold
Biotech firm says U.S. Food and Drug Administration has granted "fast track" status to co's CDH17 drug for the treatment of gastroenteropancreatic neuroendocrine tumours
FDA grants "fast track" designation to facilitate the development and expedite the review of drugs to treat serious conditions
Chimeric says "fast track" status will allow co to benefit from more frequent meetings with the FDA for the drug's development plan and potential eligibility for accelerated approval, among others
Stock down 32.5% YTD, including current session's moves
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