Reata Pharma Shares Rise 18%; FDA Doesn't Plan Advisory Meeting For NDA

By Stephen Nakrosis

Shares of Reata Pharmaceuticals Inc. were trading higher Friday, a day after the company said the U.S. Food and Drug Administration informed the company it doesn't plan to hold an advisory committee meeting in connection with its review of the new drug application for omaveloxolone to treat patients with Friedreich's ataxia.

At 11:34 a.m. ET, shares of Reata were trading 18% higher at $29.56 per share.

Volume at the time was just under 2 million shares. The stock's 65-day average volume is 785,663 million.

The company said Friedreich's ataxia is a rare, genetic, life-shortening, debilitating, and degenerative neuromuscular disorder. There are no approved therapies for the condition, Reata said.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

October 14, 2022 11:56 ET (15:56 GMT)

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