Today the clinical-stage pharmaceutical company Plus Therapeutics, Inc. (Nasdaq: PSTV), focused on developing targeted radiotherapeutics for CNS cancers, announced that the FDA has conditionally accepted REYOBIQ™ as the proprietary name for its lead therapeutic candidate. The name will be officially reviewed upon the submission of a marketing application (NDA). Moving forward, all communications regarding the generic name rhenium Re 186 obisbemeda will use the proprietary name REYOBIQ™. Shares have surged 63% on the news.
“Branding is an important part of preparing for commercialization, and the establishment of the REYOBIQ™ brand will enable investigators, investors, and potential patients to connect with our rhenium-based radiotherapeutic beyond its chemical identity,” said Russ Havranek, Plus Therapeutics VP of Corporate Strategy and New Product Planning. “We are looking forward to building familiarity with the new REYOBIQ™ name and logo, as we believe it will foster stronger stakeholder engagement and reinforce the promising progress we are making in developing targeted radiotherapeutics for LM and GBM.”
The stock has recently seen positive momentum as last week it also went up 18% following the company’s announcement of a $15 million private placement to advance its targeted radiotherapeutics for CNS cancers.
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