Acer Therapeautics hits near 4-month high on FDA nod for new drug application

MindMaze Therapeutics Holding SA

06/10/2021 11:36

** Shares of Acer Therapeautics  ACER.O  jump 25.3% to $3.12
premarket, their highest level since June 14
    ** ACER and its Swiss partner Relief Therapeutics  RLFB.S 
say FDA has allowed it to file a new drug application for its
experimental drug, ACER-001, to treat urea cycle disorders
(UCDs)  urn:newsml:reuters.com:*:nEQbHtgXma
    ** UCDs are caused by genetic mutations and affect how a
body removes the waste made from breaking down protein
    ** The FDA has assigned a Prescription Drug User Fee Act
target action date of June 5, 2022
    ** ACER-001 has not yet been approved by the FDA, the
European Medicines Agency, or any other regulatory authority
    ** More than 1.25 mln shares traded, 25 times their 30-DMA
volume
    ** Up to Tuesday's close, stock had fallen ~5% this year 

 (Reporting by Bansari Mayur Kamdar)
 ((BansariMayur.Kamdar@thomsonreuters.com;))