Beam Therapeutics up after sickle cell therapy receives orphan drug designation

Beam Therapeutics

03/06/2025 13:46

** Shares of biotech firm Beam Therapeutics BEAM.O rise 4.9% to $16.96, premarket

** BEAM says U.S. FDA has granted 'orphan drug designation' to its experimental cell therapy to treat sickle cell disease (SCD)

** FDA grants orphan drug status to promote drug development for rare diseases affecting fewer than 200,000 people in the U.S.

** SCD is a serious and lifelong condition caused by errors in the genes for haemoglobin, which is used by red blood cells to carry oxygen around the body

** The therapy, BEAM-101, is currently being tested in an early-stage study with 30 patients

** As of last close, BEAM down 34.7% YTD

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))