Annexon rises on EMA's 'priority medicine' tag for eye disease treatment

Annexon

24/10/2023 17:31

** Shares of drug developer Annexon Inc  ANNX.O  rise 7.1%
to $1.8
    ** Co says European Medicines Agency (EMA) has granted
'priority medicine' (PRIME) tag to co's eye disease treatment,
ANX007
     ** The tag is based on mid-stage trial data which showed
ANX007 preserved visual function in patients with geographic
atrophy
    ** Geographic atrophy refers to advanced form of dry
age-related macular degeneration, an eye disease that is the
leading cause of blindness in the elderly
    ** Co is engaging with U.S. and EU regulatory authorities to
optimally design and expedite a global late-stage trial for
ANX007
    ** PRIME is a scheme run by EMA to enhance support for the
development of medicines that target an unmet medical need
    ** Stock down ~66% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))