Syros Gets FDA Orphan Drug Designation for Tamibarotene

 Shares of Syros Pharmaceuticals are trading higher in Wednesday's after-hours market, following the company's announcement the U.S. Food and Drug Administration granted orphan drug designation to tamibarotene to treat myelodysplastic syndrome.

The FDA grants orphan drug status to treatments for rare diseases and the designation qualifies the sponsor of the drug for various development incentives, including tax credits for qualified clinical testing.

https://www.marketscreener.com/quote/stock/SYROS-PHARMACEUTICALS-IN-29688130/news/Syros-Shares-Up-10-After-Getting-FDA-Orphan-Drug-Designation-for-Tamibarotene-37727696/