By Adriano Marchese

Shares of Palvella Therapeutics rose in premarket trading Tuesday after the company reported positive results from its phase 3 trial of its treatment targeting microcystic lymphatic malformations.

Shares recently traded 42% higher ahead of the morning bell at $124.89.

The clinical-stage biopharmaceutical on Tuesday reported positive topline results from the its Phase 3 Selva study of Qtorin 3.9% rapamycin anhydrous gel to treat microcystic lymphatic malformations.

Microcystic lymphatic malformations, or microcystic LMs, are a rare type of lymphatic malformation made up of very small, abnormal lymphatic cysts which are benign but can cause the occurrence of symptoms.

Palvella said the trial also met its primary endpoint with statistically significant improvement as well as a key secondary endpoint and all four additional secondary endpoints.

The company plans to submit a new drug application to the Food and Drug Administration for Qtorin in the second half of the year, which could potentially be approved by 2027, it said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

February 24, 2026 07:15 ET (12:15 GMT)

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