Ambrx Biopharma rises on FDA's 'fast-track' tag for prostate cancer drug
** Shares of drug developer Ambrx Biopharma AMAM.O up 1.2% at $15.9
** AMAM says U.S. Food and Drug Administration has granted its "fast-track" status to co's experimental prostate cancer drug, ARX517
** Co is testing ARX517 in an early-to-mid-stage study in patients suffering from a treatment-resistant form of prostate cancer that can spread to other parts of the body
** AMAM's experimental drug is an antibody drug conjugate which targets and kills tumor cells while sparing healthy cells
** FDA's fast-track status is intended to expedite review of drug candidates being developed to treat serious conditions
** As of last close, AMAM has risen ~76% since debut on Nasdaq in March 2023
Reporting by Bhanvi Satija in Bengaluru
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