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Jan. 24, 2022, 7:51 a.m. EST

AstraZeneca says drug for rare, fatal condition gets orphan-drug designation

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By Jaimy Lee

U.S.-listed shares of AstraZeneca /zigman2/quotes/200304487/composite AZN +1.05% were down 1.% in premarket trading on Monday after the company said it received an orphan-drug designation for its experimental treatment for transthyretin-mediated amyloidosis, a rare condition that causes heart failure and death within years of diagnosis. The treatment, eplontersen, comes from a development and commercialization deal that AstraZeneca inked with Ionis Pharmaceuticals Inc. /zigman2/quotes/201272020/composite IONS +2.67% in December. AstraZeneca said it aims to file the drug for approval with the Food and Drug Administration by the end of 2022. Ionis shares were down 0.2% in premarket trading. The FDA can give orphan-drug designations to therapies designed to treat diseases or disorders that affect fewer than 20,000 people in the U.S. AstraZeneca's stock is up 1.4% for the year, while Ionis shares have declined 1.8%. The S&P 500 /zigman2/quotes/210599714/realtime SPX +2.47% has tumbled 7.7% year-to-date.

/zigman2/quotes/200304487/composite
US : U.S.: Nasdaq
$ 67.40
+0.70 +1.05%
Volume: 0.00
May 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
2.08%
Market Cap
$206.79 billion
Rev. per Employee
$500,529
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/zigman2/quotes/201272020/composite
US : U.S.: Nasdaq
$ 37.63
+0.98 +2.67%
Volume: 1.62M
May 27, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$5.34 billion
Rev. per Employee
$1.27M
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
4,158.24
+100.40 +2.47%
Volume: 2.17B
May 27, 2022 5:49p
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