Acer Therapeutics drops as FDA misses action date for genetic disorder drug

Acer Therapeutics

07/06/2022 15:33

** Shares of Acer Therapeutics  ACER.O  fall as much as 4%
to $2.19 - on track for its second straight session of losses 
    ** Drug developer says it has not yet received a decision
from U.S. Food and Drug Administration on its genetic disorder
drug ACER-001  urn:newsml:reuters.com:*:nGNX4r5g1n 
    ** The health regulator had accepted ACER's application for
review in Oct. 2021, had assigned a target action date of June
5, 2022
    ** ACER is developing the drug along with its Swiss partner
Relief Therapeutics  RLFB.S  as a potential treatment for urea
cycle disorders (UCDs)
    ** UCDs are caused by genetic mutations and affect how a
body removes the waste made from breaking down protein
    ** Including session, ACER down ~3% YTD 

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))