Iveric bio jumps as FDA grants priority review to eye disorder drug

IVERIC bio

17/02/2023 16:43

** Shares of drug developer Iveric bio Inc  ISEE.O  rise
20.3% to $24.06
    ** Stock top gainer on Nasdaq Biotechnology index  .NBI 
    ** The U.S. FDA has granted priority review to marketing
application of company's experimental drug, avacincaptad pegol,
for treating an eye disorder known as geographic atrophy, ISEE
said late on Thursday
    ** FDA sets action date of Aug. 19, by which it will decide
on the marketing approval
    ** FDA is not currently planning to hold a meeting of a
panel of its outside advisers for the drug - ISEE
    ** Brokerage Cowen expects timely approval for the drug and
launch in H2 of this year
    ** Geographic atrophy is an advanced form of age-related
macular degeneration that leads to progressive and irreversible
vision loss
    ** Iveric shares have risen ~63% in the past 12 months
 (Reporting by Raghav Mahobe)
 ((Raghav.Mahobe@thomsonreuters.com))