Precigen climbs on EU's 'orphan' tag for its respiratory tract disease treatment

Precigen

16/01/2024 13:35

** Shares of gene therapy developer Precigen  PGEN.O  rise
~2.9% to $1.41 premarket 
    ** Co says the European Commission granted "orphan drug"
designation to PRGN-2012, its treatment for recurrent
respiratory papillomatosis (RRP)
    ** Orphan drug status is given to drugs that treat rare
conditions, and are protected through a series of government
incentives once in the market
    ** RRP is a disease in which non-cancerous tumors called
papillomas grow in the respiratory tract
    ** Stock fell 11.8% in 2023

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))