- The stock price of Akari Therapeutics PLC (NASDAQ: AKTX) increased by over 20% pre-market. This is why it happened.
The stock price of Akari Therapeutics PLC (NASDAQ: AKTX) – a biopharmaceutical company focused on innovative therapeutics to treat orphan autoimmune and inflammatory diseases where the complement and leukotriene systems are implicated – increased by over 20% pre-market. Investors are responding positively to the company announcing that the FDA has granted Fast Track designation to nomacopan for the treatment of patients with moderate and severe BP.
Nomacopan was also granted orphan drug designation for nomacopan for the treatment of BP by the FDA and the European Medicines Agency (EMA). And success in BP could potentially open up a range of other severe dermatological conditions for treatment with nomacopan where C5 and LTB4 are implicated, including hidradenitis suppurativa, epidermolysis bullosa acquisita and mucous membrane pemphigoid.
Fast track is a process designed for facilitating the development and expedite the review of drugs to treat serious conditions and fill an unmet medical need. And the purpose is to get important new drugs to the patient earlier. A drug that receives Fast Track designation benefits from more frequent communications and meetings with the FDA to review the drug’s development plan including the design of the proposed clinical trials, use of biomarkers, and the extent of data needed for approval.
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