Can-Fite Bio Shares Surge About 40% As Liver Drug Gets FDA Fast Track Designation

Can-Fite BioPharma Ltd. shares surged almost 40% in premarket trade Thursday, after the company said the U.S. Food and Drug Administration has granted fast track designation to its CF102 treatment for the most common form of liver cancer. The company is currently in the midst of a Phase II study of the drug in the U.S., Europe and Israel. The global market for liver cancer drugs is expected to top $2 billion in 2015, the company said in a statement, citing publisher Global Industry Analysts. Shares are down about 33% in the year through Wednesday, while the S&P 500 has lost 3%.