By Michael Dabaie
Viracta Therapeutics Inc. shares were up 5% to $9.51 after the company said it reacquired the rights to its combination therapy in China.
The oncology company targeting virus-associated malignancies said it reacquired the exclusive rights to develop and commercialize its all-oral combination product candidate in China previously licensed to Shenzhen Salubris Pharmaceuticals Co. The rights were returned to Viracta in exchange for a $4 million cash payment to Salubris.
Viracta's combination therapy of nanatinostat and valganciclovir is currently in a Phase 2 trial for Epstein-Barr virus-positive lymphoma.
Viracta also received U.S. Food and Drug Administration clearance of an investigational new drug application for a Phase 1b/2 trial of the combination therapy in EBV(+) recurrent or metastatic nasopharyngeal carcinoma and other EBV(+) solid tumors.
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(END) Dow Jones Newswires