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Ignyta to explore strategic options regarding cancer candidate taladegib; shares up 7% after hours

Mar. 23, 2017 4:28 PM ETIgnyta, Inc. (RXDX-OLD) StockBy: Douglas W. House, SA News Editor
  • Ignyta (NASDAQ:RXDX-OLD) perks up 7% after hours on light volume in response to its announcement that it has amended its 2015 license agreement with Eli Lilly (LLY) allowing it to pursue strategic alternatives (i.e, the best development path) for small molecule taladegib, in development for the treatment of a range of cancers.
  • Specifically, the company will explore/assess the best development avenues for single-agent oral taladegib and the topical formulation via sub-licensing or selling the franchise to dermatology-focused companies with an interest in superficial, nodular and advanced basal cell carcinoma. It adds that unnamed firms have already expressed interest in the assets.

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