By Colin Kellaher
Edgewise Therapeutics shares moved higher in premarket trading Tuesday after the clinical-stage biopharmaceutical company won U.S. Food and Drug Administration fast-track designation for EDG-5506 for the treatment of Duchenne muscular dystrophy.
Shares, which closed Monday at $18.95, were recently up 7.9% to $20.45 in premarket trading.
The Boulder, Colo., company on Tuesday said it is currently conducting a pair of Phase 2 placebo-controlled studies of EDG-5506 in Duchenne, a severe, degenerative muscle disorder.
The FDA's fast-track program is designed to facilitate the development and expedite the review of treatments for serious or potentially life-threatening illnesses with high unmet medical needs.
The FDA previously granted orphan-drug designation to EDG-5506 for the treatment of Duchenne and Becker muscular dystrophy, rare-pediatric-disease designation for the treatment of Duchenne, and fast-track designation for the treatment of Becker.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
02-13-24 0849ET