NewLink Jumps on Orphan Drug Status for Melanoma Treatment -- Biotech Movers

The U.S. Food and Drug Administration has granted orphan drug designation to NewLink's indoximod, a potential treatment for patients with Stage IIb-IV melanoma.
Stocks quotes in this article: NLNK, MACK, ADMS

Shares of NewLink Genetics Corp. (NLNK) rose 5.7% to $10.06 ahead of the market open on Monday, Oct. 30, after the U.S. Food and Drug Administration granted orphan drug designation to the Ames, Iowa-based firm's indoximod, a potential treatment for patients with Stage IIb-IV melanoma.

In other news, the FDA gave orphan drug designation to Merrimack Pharmaceuticals Inc.'s (MACK) MM-121 for the treatment of heregulin positive non-small cell lung cancer. Shares of Cambridge, Mass.-based Merrimack were up 3.7% to $11.85.

Among the other stock movers was Adamas Pharmaceuticals Inc. (ADMS) , up 17.4% to $22.90. The Emeryville, Calif.-based company said on Oct. 25 that the FDA has recognized seven years of orphan drug exclusivity for Adamas' Gocovri (amantadine) extended release capsules.

The agency in August approved Gocovri as a treatment for dyskinesia in patients with Parkinson's disease receiving levodopa-based therapy, with or without concomitant dopaminergic medications.

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