Acer Therapeutics rises on FDA's breakthrough therapy tag

Acer Therapeutics

04/04/2022 14:12

** Drug developer's shares  ACER.O  up ~26% at $3.92
premarket
    ** U.S. FDA grants breakthrough therapy designation to
company's experimental therapy, celiprolol, for treatment of
vascular Ehlers-Danlos syndrome  urn:newsml:reuters.com:*:nASA036G6
    ** Vascular Ehlers-Danlos syndrome is a genetic condition
that makes arteries and hollow organs prone to tear, due to a
mutation in the COL3A1 gene
    ** Company expects to start late-stage trial of celiprolol
by end of Q2, if agreement on the study design is reached with
FDA
    ** Breakthrough therapy designation is intended to expedite
the development and review of drugs for serious or
life-threatening conditions
    ** Celiprolol received FDA's orphan drug designation for
treatment of the disease in 2015
    ** Company's shares up ~28% YTD

 (Reporting by Mrinalika Roy in Bengaluru)
 ((mrinalika.roy@thomsonreuters.com; within U.S. +1 646 223
8780, outside U.S. +91 806749 8325))