NeOnc Technologies (NTHI) said Tuesday it has received investigational new drug clearance from the Abu Dhabi's Department of Health for its brain tumor treatment NEO212, enabling phase 2 evaluation of the therapy in the UAE.

The authorization marks the first international regulatory clearance for NEO212 following completion of phase 1 clinical evaluation and represents a "significant step" toward expanding the program into multiple global markets, the company said.

The clearance also adds an international clinical pathway for NEO212 while discussions continue with the US Food and Drug Administration on a potential registrational pathway for the therapy, the company said.

Shares of NeOnc Technologies were 6% higher in Tuesday trading.

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