Benzinga | Aug 12, 2021 11:06AM EDT

Allogene's BCMA-Targeted Therapy Gets US Orphan Drug Tag For Multiple Myeloma

* The FDA has granted Orphan Drug Designation to Allogene Therapeutics Inc's (NASDAQ:ALLO) ALLO-715 to treat multiple myeloma.

* In April 2021, ALLO-715 received Regenerative Medicine Advanced Therapy (RMAT) designation by the FDA.

* ALLO-715, an AlloCAR T therapy targeting B-cell maturation antigen (BCMA), is a potential novel treatment for multiple myeloma and other BCMA-positive malignancies.

* Price Action: ALLO shares are down 2.35% at $20.75 during the market session on the last check Thursday.

* Related content: Benzinga's Full FDA Calendar.