Get 40% Off
📈 Free Gift Friday: Instantly Copy Legendary Investors' PortfoliosCopy for Free

FDA withdraws approval for TG Therapeutics cancer treatment

Published 06/01/2022, 10:03 AM
Updated 06/01/2022, 10:05 AM
© Reuters. FILE PHOTO: Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. REUTERS/Andrew Kelly/File Photo

(Reuters) -The U.S. Food and Drug Administration said on Wednesday it has withdrawn its approval for TG Therapeutics (NASDAQ:TGTX) Inc's lymphatic cancer treatment Ukoniq over concerns of higher risk of death in patients receiving the drug.

Ukoniq received accelerated approval in the United States in February last year to treat adult patients with marginal zone lymphoma who have received prior therapy and for the treatment of adult patients with follicular lymphoma.

The U.S. health regulator has rarely withdrawn approval for treatments, but has recently done so for drugs approved under its "accelerated approval" pathway.

The pathway, mainly for rare diseases or small patient populations that have had no effective treatments, has come under increasing scrutiny after the FDA used it last year to approve Biogen Inc (NASDAQ:BIIB)'s controversial Alzheimer's Disease drug despite efficacy concerns.

The U.S. health regulator said based on updated clinical trial data it has determined that the risks of treatment with Ukoniq outweigh its benefits.

In April, TG Therapeutics withdrew the drug from sale in the United States amid the ongoing safety issues and pulled its application for expanded use of the drug for other types of lymphomas.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.