Editas Medicine rises on 'orphan drug' tag for sickle cell disease treatment

Editas Medicine

27/04/2023 14:22

** Gene editing company Editas Medicine Inc's  EDIT.O 
shares rise 3.4% to $8.17 premarket
    ** Company says U.S. Food and Drug Administration granted
"orphan drug" designation to EDIT-301
    ** EDIT-301 is an experimental cell therapy medicine for the
treatment of sickle cell disease
    ** Sickle cell is an inherited blood disorder, where the red
blood cells are misshapen in a sickle shape instead of a typical
disc shape
    ** Orphan drug status is given by the FDA to drugs that
treat rare conditions, and are protected through a series of
government incentives once in market
    ** As of last close, company's shares down ~11% YTD

 (Reporting by Sriparna Roy)
 ((Sriparna.Roy@thomsonreuters.com))