PharmaMar shares jump after FDA approves first lung cancer treatment for 22 years
Pharma Mar Sa
4,254.00p
16:30 28/03/24
Shares of Spanish biotechnology firm Pharma Mar jumped after receiving approval from US regulators for its treatment against small cell lunch cancer treatment.
IBEX SMALL CAP
8,011.20
18:45 28/03/24
PHARMA MAR R
€28.74
18:15 28/03/24
It marks the first new treatment for the disease in 22 years.
Using its accelerated approval process, the FDA approved Pharma Mar's anti-tumour compound, lurbinectedin, will be marketed under the brand name Zepzelca.
Sales of Lurbinectedin will start in early July via its US partner, Jazz Pharmaceuticals.
The Spanish company will receive a $100.0m payment from Jazz following Tuesday's milestone and up to $150.0m more once full approval is granted.
As of 1519 BST, shares of Pharma Mar were rocketing 21.63% to €7.76.