FDA grants priority review to Reata's rare disease drug
Shares of Reata Pharmaceuticals Inc. (RETA) were up 2.4% in trading on Thursday after the company said the Food and Drug Administration granted priority review to the company's experimental treatment for Friedreich's ataxia, a rare nervous system disease. The regulator is now set to make a decision on omaveloxolone by Nov. 30. "If approved, we are looking forward to a commercial launch in early 2023," Reata CEO Warren Huff said in a news release. Reata's stock is up 4.3% so far this year, while the S&P 500 is down 16.5%
(END) Dow Jones Newswires
May 26, 2022 14:31 ET (18:31 GMT)
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