BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) is having an incredible time in the market at the moment. In fact, minutes ago, the stock started spiking. The gains are ultimately the result of an FDA approval. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (1:19), BMRN is trading at $98.31 per share after a gain of $2.24 per share or 2.33% thus far today.
FDA Approves BMRN Treatment
As mentioned above, minutes ago, BioMarin Pharmaceutical started gaining after news broke that the United States Food and Drug Administration approved the company’s new drug application. The application surrounded the now FDA approved treatment Brineura. The treatment is designed for patients dealing with Batten disease.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on BMRN. In particular, we’re interested in following the company’s next steps following the news of FDA approval. With this, the company is now free to move toward commercialization. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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