Shares in Zeltia are on the rise this morning after the Spanish drugmaker noted that its oncology agent Yondelis has received its first approval in a new indication, ovarian cancer.

The Madrid-headquartered company says that regulators in the Philippines have approved Yondelis (trabectedin) for the treatment of recurrent ovarian cancer as well as advanced soft tissue sarcoma. The drug is already available for the latter indication in Europe and a number of other territories, including Argentina, Venezuela, South Korea and Russia.

The company will now be hoping that the ovarian cancer approval in the Philippines for Yondelis, which was developed by Zeltia’s PharmaMar unit, will be replicated in Europe, sometime before the end of the year, and the USA. The Philippine decision comes ahead of a meeting of a Food and Drug Administration meeting next week which will review Yondelis, which is partnered in the USA with Johnson & Johnson, for ovarian cancer.

Yondelis is Zeltia’s key drug and the company recently signed a licensing agreement with Taiho Pharmaceutical to sell the drug, which is derived from the sea-squirt. The news from the Philippines comes just days after National Institute for Health and Clinical Excellence decided that Yondelis should not be made available on the National Health Service in England and Wales for advanced soft tissue sarcoma as it is deemed to not be cost-effective.