Insys Therapeutics, Inc. (INSY) Monday said the U.S. Food and Drug Administration has granted orphan drug status to the company's pharmaceutical cannabidiol for treating glioma, a common type of malignant brain tumor.
CEO Michael Babich said the company will focus initially on pontine glioma (a tumor found in the brainstem), for which the company's pharmaceutical cannabidiol was granted orphan drug designation last month.
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