May. 9 at 2:07 PM
$TOVX When a company gets a drug approved by the FDA for a rare pediatric disease they receive something called a Priority Review Voucher. This voucher is essentially a golden ticket that lets any company cut the FDA's normal 12-month review timeline down to 6 months for any drug of their choosing. That time savings is worth an enormous amount of money to companies racing to get blockbuster drugs to market faster. These vouchers are fully transferable — meaning TOVX doesn't have to use it themselves. They can sell it to the highest bidder. Recent vouchers have sold for between
$100 million and
$150 million in cash transactions between pharmaceutical companies.
TOVX received Rare Pediatric Drug Designation for VCN-01 in retinoblastoma — a devastating childhood eye cancer. If VCN-01 gets FDA approved for retinoblastoma before September 30, 2029 the company automatically qualifies to receive one of these vouchers which they could then sell for approximately
$100 million or more.
