VAXX Vaxxinity Inc

By Michael Dabaie

Vaxxinity Inc. on Monday said UB-311 received U.S. Food and Drug Administration fast track designation for the treatment of Alzheimer's disease

Shares went into positive territory premarket after the news, but pared gains and were recently down 2.7% to $6.76. The stock closed trading Friday up 84% to $6.95.

The fast track program is designed to facilitate the development and expedite the review of new drugs intended to treat serious or life-threatening conditions, with evidence demonstrating the potential to address an unmet medical need.

"We are on an encouraging clinical path for UB-311 and look forward to collaborating with the FDA and other global regulatory agencies to bring UB-311 expeditiously to the global market. Because our vaccine approach allows for more convenient administration and broad access, UB-311 is positioned to potentially lead a paradigm shift in the treatment, and even prevention, of Alzheimer's," Chief Executive Mei Mei Hu said.

Write to Michael Dabaie at michael.dabaie@wsj.com

(END) Dow Jones Newswires

May 02, 2022 08:46 ET (12:46 GMT)

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