Phanes Therapeutics' PT217, a bispecific antibody targeting DLL3 and CD47, received FDA Fast Track designation for treating extensive-stage small cell lung cancer (ES-SCLC) post-platinum chemotherapy. PT217, also granted orphan drug status in 2022, is in Phase I trials for SCLC, LCNEC, and EP-NECs, aiming to improve survival rates for these aggressive cancers.