Iveric soars as eye drug gets FDA's 'breakthrough therapy' tag

IVERIC bio

18/11/2022 12:56

** Shares of eye disease drugmaker Iveric bio Inc  ISEE.O 
soar ~22% premarket to $21.1 - one of the top gainers among U.S.
stocks trading before the bell
    ** Co says its drug Zimura received "breakthrough therapy"
designation from U.S. Food and Drug Administration
    ** The drug, currently in late-stage trial, is a potential
treatment for geographic atrophy, an age-related disorder which
leads to visual function loss 
    ** Breakthrough therapy tag is meant to speed up development
and review of drugs to treat a serious condition or unmet
medical need
    ** Up to Thursday's close, stock had risen ~3% YTD vs a ~11%
decline in the Nasdaq Biotechnology index  .NBI 
 (Reporting by Sriparna Roy)
 ((Sriparna.roy@thomsonreuters.com))