The new cancer drug, Folotyn, by Allos Therapeutics, was approved quickly by the FDA to treat the most chronic and aggressive kinds of white blood cell cancers, thereby increasing its share prices by 6 percent.

The accelerated approval was granted because it treats a deadly disease and is recommended for people whose disease has returned or has not responded to other forms of treatment and chemotherapy.

Fewer than 9,500 people are affected by this disease every year. The disease strikes a type of white blood cell, called a T-cell, involved in the body's disease fighting immune system.

FDA's approval followed the analyses of the data that showed that Folotyn reduced the tumor size in 27 percent of 109 people with PTCL who were examined.

Sores of the lips, mouth and digestive tract, low white blood cell counts, fever, nausea and fatigue were some of the side effects of the drug.

Women taking Folotyn should prevent themselves from becoming pregnant because it can cause harm to the fetus.

People consuming Folotyn should also add supplements like folate and B12 to their diet because it will help them in reducing the irritation of the mucous membranes.

Colorado-based Allos Therapeutics, the maker of Folotyn, is required to conduct additional studies of tumor shrinkage and life expectancy.