10:30 AM EDT, 06/27/2024 (MT Newswires) -- GT Biopharma ( GTBP ) said Thursday that the US Food and Drug Administration has cleared its investigational new drug application for GTB-3650, allowing the company to proceed with a phase 1 clinical trial.

The company said it expects to start the trial in the second half of the year, evaluating GTB-3650 in adult patients with relapsed or refractory CD33 expressing hematologic malignancies such as cute myeloid leukemia and high-risk myelodysplastic syndrome.

GT Biopharma ( GTBP ) also said it expects submit an investigational new drug application for GTB-5550 for multiple solid tumors in Q1 2025.

Shares of GT Biopharma ( GTBP ) were 0.7% higher in recent trading.

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