Annexon up on EMA's 'orphan drug' tag for neurological disorder drug

Annexon

10/10/2023 14:58

** Shares of drug developer Annexon Inc  ANNX.O  up ~2% at
$2 
    ** Co says European Medicines Agency (EMA) granted "orphan
drug" designation to its lead experimental drug, ANX005, for
treating Guillain-Barre Syndrome (GBS)
    ** GBS is a rare neurological disorder where the immune
system attacks the body's nerves 
    ** ANNX adds that its late-stage study of ANX005 in GBS
reached target enrollment of 225 patients; so expects to report
data in H1'24
    ** U.S. health regulator previously granted "orphan drug"
designation to ANX005 for the treatment of GBS 
    ** EMA's orphan designation is assigned to a medicine
intended for use against a life-threatening or chronically
debilitating condition that affect fewer than five in 10,000
persons in the European Union
    ** YTD stock down ~61% 

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))