Australia's Neurizon Therapeutics surges on getting OMPD for ALS drug in Europe

Neurizon Therapeutics

17/12/2024 03:30

** Shares of biotech firm Neurizon Therapeutics  NUZ.AX  rise
9.1% to A$0.18, set for their biggest one-day pct gain since
early June
** European Medicines Agency (EMA) grants orphan medicinal
product designation (OMPD) to co's NUZ-001 drug aimed at
treating amyotrophic lateral sclerosis (ALS), a terminal
neurodegenerative disease
    ** EMA gives orphan product designation to facilitate
medicine development for rare diseases affecting not more than 5
in 10,000 people in the EU
    ** Co says orphan designation provides a framework of
incentives including reduced regulatory fees, free protocol
assistance and 10-year market exclusivity
    ** Stock up 56.5% YTD, including session's moves

(Reporting by Nikita Maria Jino in Bengaluru)
((Nikita.Jino@thomsonreuters.com;))