Reata's stock nearly triples after FDA approves rare-disease drug amid uncertainty about approach to neuroscience treatments

Last Updated: Feb. 28, 2023 at 6:31 p.m. ET First Published: Feb. 28, 2023 at 5:35 p.m. ET By Jaimy Lee Reata’s Skyclarys is a treatment for Friedreich’s ataxia, a rare inherited disease that causes damage to the nervous system Getty Images/iStockphoto Referenced Symbols RETA +1.04% BIIB +0.25% 4523 -1.14% SPX -0.30% The U.S. Food

Financial Press

Published

March 1, 2023

reata's-stock-nearly-triples-after-fda-approves-rare-disease-drug-amid-uncertainty-about-approach-to-neuroscience-treatments

Last Updated: Feb. 28, 2023 at 6:31 p.m. ET First Published: Feb. 28, 2023 at 5:35 p.m. ET

Jaimy Lee

Reata’s Skyclarys is a treatment for Friedreich’s ataxia, a rare inherited disease that causes damage to the nervous system

Referenced Symbols

RETA

+1.04%

BIIB

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The U.S. Food and Drug Administration on Tuesday approved Reata Pharmaceuticals Inc.’s treatment for Friedreich’s ataxia, a rare inherited disease that causes damage to the nervous system.

Reata’s RETA stock jumped more than 180% in after-hours trading, after being halted in advance of the FDA’s decision.

The drug, omaveloxolone, is now…

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