08:30 AM EDT, 06/10/2024 (MT Newswires) -- Shattuck Labs ( STTK ) said Monday that the Food and Drug Administration has granted orphan drug designation to its lead clinical candidate SL-172154 to treat acute myeloid leukemia

The designation is intended for drugs being developed that treat, diagnose, or prevent a rare disease or condition affecting fewer than 200,000 people in the US. It provides various benefits to support developing the drugs, including the potential for seven years of market exclusivity, eligibility for tax credits for qualified clinical trials, and waiver of application fees.

Shares of Shattuck Labs ( STTK ) were up more than 3% in recent premarket activity.

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