RedHill: Up on fast track status for lung disease treatment

Redhill Biopharma

06/01/2021 12:51

** Israeli drugmaker's U.S.-listed shares  RDHL.O  up 5.8%
at $8.7 premarket
    ** U.S. FDA grants Fast Track designation to co's drug,
RHB-204, to treat a type of lung disease called pulmonary
nontuberculous mycobacteria  urn:newsml:reuters.com:*:nPreTWWBFa
    ** Agency's Fast Track designation designed to help progress
development and speed up review of novel therapies for serious
conditions for which there is an unmet medical need
    ** RHB-204 was also recently granted Orphan Drug
designation, extending U.S. market exclusivity to a total of 12
years upon FDA approval
    ** RHB-204 is currently in late-stage trial
    ** Up to Tuesday's close, stock had risen 33% in the last 12
months 

 (Reporting by Dania Nadeem in Bengaluru)
 ((Dania.Nadeem@thomsonreuters.com;))