Axcella rises on FDA fast track tag for NASH therapy

Axcella Health

14/02/2022 13:42

** Shares of drug developer  AXLA.O  rise 5.7% to $1.85
premarket
    ** AXLA says the U.S. FDA granted fast track designation to
its oral drug candidate, AXA1125, for the treatment of
non-alcoholic steatohepatitis (NASH) with liver fibrosis or
scarring  urn:newsml:reuters.com:*:nBw21sp8Fa
    ** NASH is a condition in which fat builds up in the liver
and has no approved treatments yet
    ** AXLA's drug is currently in a mid-stage clinical trial in
NASH patients and is also being studied separately as a
treatment for long COVID
    ** FDA's fast track tag is designed to facilitate the
development and expedite the review of drugs to treat serious or
life-threatening conditions; benefits include more frequent
meetings with the agency
    ** Stock down 16.3% YTD, up to last close

 (Reporting by Amruta Khandekar)
 ((Amruta.Khandekar@thomsonreuters.com;))