Avrobio jumps on 'orphan drug' tag for gene therapy

Tectonic Therapeutic

13/07/2022 13:18

** Shares of gene therapy developer Avrobio Inc  AVRO.O 
jump nearly 10% to $1.06 premarket
    ** Company gets FDA's "orphan drug" tag for AVR-RD-05, a
gene therapy for Hunter Syndrome, a rare disease in which the
body misses or does not have enough of an enzyme needed to break
down long chains of sugar molecules  urn:newsml:reuters.com:*:nBw7CNBmka
    ** AVR-RD-05 is company's fourth gene therapy to receive the
tag, says AVRO
    ** 6 of 9 brokerages rate the stock "buy" or higher, 3
"hold"; median PT $4 - Refinitiv data
    ** As of last close, company's shares down about 75% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com; Twitter: https://twitter.com/LeroyLeo7))