Satellos Bioscience Shares Climb After FDA Fast Track Designation
By Robb M. Stewart
Satellos Bioscience's shares jumped Monday after the Duchenne treatment being developed by the biotechnology company received fast track designation in the U.S.
In morning trading, the shares rose 12% to C$11.39 in Toronto, widening the year-to-date advance to 44%.
Satellos said the Food and Drug Administration granted SAT-3247 fast track designation, a process designed to help development and expedite the review of drugs that treat serious conditions and address unmet medical needs.
The company is currently advancing SAT-3247 through ongoing Phase 2 studies in children and adults living with Duchenne muscular dystrophy.
Co-founder and Chief Executive Frank Gleeson said the recognition from the FDA, together with orphan drug and rare pediatric disease designations, further strengthens the momentum behind Satellos's clinical program.
Write to Robb M. Stewart at robb.stewart@wsj.com
(END) Dow Jones Newswires
June 29, 2026 10:23 ET (14:23 GMT)
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