Allos Therapeutics Receives Orphan Status

The FDA has granted Allos Therapeutics (NASDAQ: ALTH) next-generation chemotherapy drug pralatrexate, or PDX, for the treatment of T-cell lymphoma, with an orphan drug designation.

An orphan drug designation is assigned to a drug that targets the treatment of a disease with less than 200,000 sufferers in the U.S. The status provides seven years of marketing exclusivity for the treatment should it gain approval, along with tax breaks and possible development funding.