Celsion Corporation (NASDAQ: CLSN) has disclosed that US FDA has granted the firm’s GEN-1 Fast Track Designation. GEN-1 was created using the patented TheraPlas platform technology of CLSN. GEN-1 is presently in Phase II for the cure of ovarian cancer.
The main purpose of Fast Track Designation is to help the advancement and speed up the supervisory review of drugs to cure severe illnesses and fill an unmet medical need. Fast Track designation is the greatest accomplishment of the firm in the effort to develop a cure for ovarian cancer.
Shares of Celsion Corporation (NASDAQ: CLSN) rocketed 52.10% during the trading session of Monday. In the past 52-weeks of trading, this firm’s share changed between the 52-week low range of $0.43 and $6.50 in the past 52-week high range. Its shares surged 534.15% from its 52-week low and plunged -58.00% from its 52-week high. Turning our focus on its liquidity, it has a current ratio of 3.70 and a quick ratio is also 3.70. CLSN’s market cap has remained high, hitting $119.21 million at the time of writing.
FDA disclosed that the FTD demonstrates the benefits of an available cure. It shows the superior efficiency, impact on severe consequences, or enhanced impact on severe consequences. GEN-1 is the focus of Celsion’s Phase II OVATION 2 Examination, which integrates GEN-1 with NACT in sufferers recently detected with Stage III/IV ovarian cancer.