Shares of Akari Therapeutics Plc. rose more than 13% late Thursday after the biopharmaceutical company said the U.S. Federal Drug Administration has granted one of its drugs a “fast track” designation. Akari’s drug, Coversin, is aimed at treatment of paroxysmal nocturnal hemoglobinuria, or PNH, a rare and chronic blood disorder. “The FDA fast track designation recognizes the unmet need in patients with PNH who cannot be treated with the current standard of care due to polymorphisms,” Gur Roshwalb, Akari Therapeutics CEO, said in a statement. Shares of Akari ended the regular trading day up 5%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News