By Colin Kellaher
Shares of InflaRx NNV jumped nearly 15% in premarket trading Wednesday after the U.S. Food and Drug Administration granted fast-track designation to its lead program vilobelimab for the treatment of ulcerative pyoderma gangrenosum, a rare inflammatory skin condition.
The Jena, Germany, clinical-stage biopharmaceutical company said it had requested the designation based on positive data from its Phase 2a open-label dose-escalation study.
The FDA's fast-track program is designed to facilitate the development and expedite the review of treatments for serious or potentially life-threatening illnesses with high unmet medical needs.
InflaRx previously received orphan-drug designation in the U.S. and Europe for vilobelimab in ulcerative pyoderma gangrenosum, which causes large, painful sores to develop on the skin, most often on the legs.
InflaRx shares, which closed Tuesday at $1.42, were recently up 14.8% to $1.63 in premarket trading.
Write to Colin Kellaher at email@example.com
(END) Dow Jones Newswires
July 06, 2022 08:00 ET (12:00 GMT)Copyright (c) 2022 Dow Jones & Company, Inc.