Calliditas Therapeutics stock jumps as kidney treatment gets FDA approval

Calliditas Therapeutics AB's American depositary receipts (CALT) jumped 15% premarket on Thursday after the company said late Wednesday that its kidney treatment Tarpeyo received full approval from the U.S. Food and Drug Administration. The agency approved the drug to reduce the loss of kidney function in adults with primary immunoglobin A nephropathy, or IgAN, a disease in which protein builds up in the kidneys, causing inflammation and damaging the kidneys' ability to filter waste from the blood. Tarpeyo is now the first fully FDA-approved treatment for IgAN based on a measure of kidney function, Calliditas said in a release. The approval also bodes well for Travere Therapeutics Inc. (TVTX) and other companies working on rare kidney disease treatments, Leerink Partners analysts said in a report Wednesday. Travere said earlier this month that it plans to file for full approval of its IgAN treatment Filspari in the first quarter of next year. Calliditas shares have climbed 32% so far this year, while the S&P 500 has gained 22%.

-Eleanor Laise

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12-21-23 0806ET

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