Applied Therapeutics up as genetic disorder drug gains 'orphan' tag in Europe
25/05/2023 13:24
** Shares of drug developer Applied Therapeutics APLT.O up
5.7% at $1.5 before the bell
** Co's experimental drug, AT-007 or govorestat, granted
'orphan drug' designation by the European Medicines Agency (EMA)
** The agency's tag for AT-007 is for treating sorbitol
dehydrogenase (SORD) deficiency, a genetic neurological disorder
causing loss of sensory function and decreased mobility
** Benefits of the orphan drug tag include potential for up
to 10-year EU market exclusivity upon regulatory approval of the
therapy
** As of last close, co's stock up 84.2% YTD
(Reporting by Pratik Jain in Bengaluru)
((Pratik.Jain@thomsonreuters.com;))