SAB Biotherapeutics soars on FDA's 'breakthrough' tag for influenza therapy

SAB Biotherapeutics

18/04/2023 16:06

(Updates)
    ** Shares of SAB Biotherapeutics Inc  SABS.O  rise 57% to
$1.21
    ** U.S. FDA grants "breakthrough therapy" tag to its
influenza therapy, SAB-176
    ** Breakthrough therapy tag is meant to speed up development
and review of drugs to treat a serious condition or unmet
medical need
    ** Last week, company also received "fast track" designation
for the therapy
    ** Eligible for intensive guidance from FDA for program
development - SABS
    ** SAB-176 is an immunotherapy treatment being developed to
neutralize Type A and Type B influenza viruses, which mutate
rapidly
    ** Company's shares down 53% in last 12 months

 (Reporting by Aditya Samal)
 ((Aditya.Samal@thomsonreuters.com))