Ultragenyx rises after FDA nod for rare disorder drug
BUZZ-Ultragenyx rises after FDA nod for rare disorder drug ** Shares of drugmaker Ultragenyx Pharmaceutical RARE.O rise 1% to $14.65 premarket, after closing up 12.58% on Thursday
** US Food and Drug Administration late on Thursday approved Ultragenyx's gene therapy, Fayuvi, as the first treatment for children with Sanfilippo syndrome Type A
** Sanfilippo syndrome Type A is an inherited condition that progressively damages the brain and nervous system
** RARE set a US list price of $3.95 million for Fayuvi, launching one of the world's most expensive drugs as a one-time treatment for a rare, fatal childhood disease
** Abeona Therapeutics ABEO.O out-licensed Fayuvi to Ultragenyx in 2022, granting the company global development and commercialization rights for the therapy
** ABEO shares up 3.5% premarket
** ABEO is eligible to receive certain commercial milestone payments and royalties tied to future product sales
** As of last close, RARE shares down ~37% YTD
(Reporting by Padmanabhan Ananthan)
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Ultragenyx rises after FDA nod for rare disorder drug
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