07:38 AM EDT, 08/26/2024 (MT Newswires) -- RedHill Biopharma ( RDHL ) said Monday that the US Food and Drug Administration granted orphan drug designation for opaganib as a treatment for neuroblastoma, a type of childhood cancer.

Besides accelerated review, the designation provides opaganib a seven-year exclusivity period in the neuroblastoma market if the drug is approved, according to Redhill.

The company's shares were up 1.1% in recent premarket activity.

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