Rocket Pharma rises on FDA's 'fast track', 'orphan drug' tags for gene therapy

Rocket Pharmaceuticals

08/06/2023 14:05

** Shares of gene therapy developer Rocket Pharmaceuticals
Inc  RCKT.O  rise ~3% to $23.91 premarket
    ** Co says FDA has granted "fast track" and "orphan drug"
tags to its heart disease therapy 
    ** Co's RP-A601 is a gene therapy candidate for the
treatment of plakophilin-2 related arrhythmogenic
cardiomyopathy, a genetic heart disease
    ** Arrhythmogenic cardiomyopathy occurs when the heart
muscle is replaced by both scar and fat
    ** "Fast track" tag facilitates development and expedites
review of drug candidates intended to treat serious conditions
    ** Orphan drug status is given by the FDA to drugs that
treat rare conditions, and are protected through a series of
government incentives once in market
    ** Up to last close, RCKT stock up ~18% YTD

 (Reporting by Sriparna Roy in Bengaluru)
 ((Sriparna.Roy@thomsonreuters.com;))