Vanda Pharmaceuticals Shares Rise Premarket on FDA Review of Tradipitant
December 05 2023 - 6:23AM
Dow Jones News
By Colin Kellaher
Shares of Vanda Pharmaceuticals rose sharply in premarket
trading Tuesday after the biopharmaceutical company said the U.S.
Food and Drug Administration accepted its application seeking
approval of tradipitant for the treatment of symptoms of the
digestive condition gastroparesis.
After the closing bell Monday, Vanda said the FDA set a target
action date of Sept. 18, 2024, for the application.
Vanda said an FDA green light would make tradipitant the first
novel drug approved by the agency in more than four decades for
gastroparesis, which prevents the stomach from emptying
properly.
Vanda shares, which closed Monday at $3.85, were recently up
nearly 19% to $4.57 in light premarket trading.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 05, 2023 06:08 ET (11:08 GMT)
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