Precigen rises on FDA's 'breakthrough' tag for respiratory disease therapy

Precigen

20/06/2023 14:03

** Shares of gene therapy developer Precigen Inc  PGEN.O 
rise 6.7% to $1.3 premarket  
    ** PGEN says the U.S. FDA has granted "breakthrough therapy"
designation for its experimental immunotherapy to treat
recurrent respiratory papillomatosis (RRP)
    ** RRP is a disease in which non-cancerous tumors grow in
the air passages leading from the nose and mouth to the lungs  
    ** The health regulator's tag is based on data from an
early-stage study of the therapy, PRGN-2012 AdenoVerse, that
showed 50% of patients required no post-treatment surgeries   
    ** Breakthrough therapy tag is meant to speed up development
and review of drugs to treat a serious condition or unmet
medical need
    ** Up to last close, stock was down ~20% YTD 

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))