Aridis Pharma gains after FDA grants QIDP tag to pneumonia drug

Aridis Pharmaceuticals

12/07/2023 13:21

** Shares of drug developer Aridis Pharmaceuticals  ARDS.O 
rise ~84% to 48 cents before the bell 
    ** ARDS says U.S. Food and Drug Administration has granted
its Qualified Infectious Disease Product (QIDP) designation to
its drug candidate AR-301
    ** Co is currently evaluating AR-301 as a potential
treatment for pneumonia in older adults in a late-stage study 
    ** FDA's QIDP status will allow ARDS's drug to be reviewed
on priority by the health regulator 
    ** As of last close, ARDS was down ~77% YTD

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