Why Reata Pharmaceuticals Stock Is Skyrocketing Today
As of midafternoon Wednesday, shares of Reata Pharmaceuticals (NASDAQ: RETA) were up by a whopping 22.7%. That was on the back of very promising news on the regulatory front for the clinical-stage biotech.
Reata disclosed that it received a notice from the Food and Drug Administration stating that a pre-New Drug Application (NDA) meeting is the most appropriate forum to discuss the company's omaveloxolone. This is a drug candidate that treats Friedreich's ataxia, a genetic disease that can cause difficulty in walking and impaired speech, among other effects.
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Source Fool.com
