Keryx's shares rally on new orphan drug title for perifosine

Keryx Biopharmaceuticals says that its experimental late-stage cancer drug perifosine won its second orphan drug classification from the FDA, helping fuel a rally in its share price. Already dubbed an orphan drug for colorectal cancer, the developer says that regulators added neuroblastoma to the special category of drugs, which is reserved for therapies aimed at relatively small populations of patients. Keryx (KERX) has high hopes for perifosine, which is being studied in a variety of cancers. Keryx has mounted Phase III trials of perifosine in refractory advanced colon cancer and multiple myeloma. The developer recently announced promising early-stage data on the drug for neuroblastoma, a nervous system cancer which primarily attacks children. "The Orphan Drug designation is an important component of our development plan for perifosine in neuroblastoma, an indication where no FDA-approved therapies currently exist," said Chief Executive Ron Bentsur. The drug is already on the agency's fast track for an accelerated review. Keryx's release/Report