Anthera Pharmaceuticals Inc (NASDAQ: ANTH) is having an incredibly strong start in the pre-market hours today, and for good reason. The company confirmed that it has received Fast Track designation for an experimental new drug. Of course, this led to excitement among investors, causing gains and prompting an alert from our partners at Trade Ideas. Currently (7:59), ANTH is trading at $1.65 per share after a gain of $0.19 per share or 13.01% thus far today.
ANTH Gains On FDA Fast Track Designation
As mentioned above, Anthera Pharmaceuticals is doing overwhelmingly well in the market this morning after confirming a Fast Track designation it received from the United States Food and Drug Administration. The Fast Track designation was provided to Blisibimod, a treatment designed for Immunoglobulin A neuropathy. Bisibimod has been shown to be elevated in a variety of B-cell mediated autoimmune disease, including IgAN, systemic lupus erythematosus, and more. In a statement, Craig Thompson, CEO at ANTH, had the following to offer...
“We are pleased by the FDA's decision to designate blisibimod with orphan drug designation... There remains a very high need for patients with IgA nephropathy, as no approved therapies currently exist despite the high proportion of patients who progress to end-stage renal disease. We remain optimisitic that blisibimod may be a well-tolerated, disease-modifying therapeutic that targets the underlying pathology for IgAN.”
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What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on ANTH. In particular, we're interested in following the ongoing work surrounding Bisibimod. Considering the Fast Track designation, the treatment now has a higher likelihood of being approved quickly. Nonetheless, we'll continue to follow the story closely and bring the news to you as it breaks!
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