Why Denali Therapeutics Stock Popped Today

Shares of Denali Therapeutics (NASDAQ: DNLI) popped on Thursday, with the stock rising 12.3% as of 3:28 p.m. EST. The nice gain came after the biotech announced that the U.S. Food and Drug Administration (FDA) granted Fast Track designation to DNL310 in treating Hunter syndrome, which is also known as mucopolysaccharidosis type II (MPS II).

The old adage that time is money applies to biotech stocks. Fast Track designation for DNL310 should speed up the process for DNL310 to potentially ultimately win regulatory approval.

Image source: Getty Images.

Continue reading

Source Fool.com