/ Glenmark Pharmaceuticals Receives USFDA Nod For Clinical Trial Of Anti-Myeloma Drug ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Tuesday, 16 May 2017

Glenmark Pharmaceuticals, a leading pharmaceutical company on Tuesday reported that the U.S. Food and Drug Administration (USFDA) has cleared the company's Investigational New Drug (IND) application to initiate phase one study of GBR 1342, a humanised monoclonal antibody for the treatment of multiple myeloma, as per BSE filing.

"GBR 1342 is designed to activate the patient's immune system by redirecting immune cells towards tumour tissue, which may lead to the targeted destruction of tumours” as per BSE filing.

This is company's second investigational new drug from its immuno-oncology portfolio to enter clinical trials.

Meanwhile, the stock of the company is trading at Rs 717.85 per share, up by 0.2% at 11:53 AM IST on the BSE. It also traded at a new 52-week low value of Rs 709 on Monday.

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