Aura's stock jumps 11% after announcing Fast Track status for its bladder cancer treatment candidate

Shares of Aura Biosciencs Inc. (NAS:AURA) were up 11.3% in premarket trading on Thursday after the company said it received a Fast-Track designation from the Food and Drug Administration for its experimental bladder-cancer treatment. Aura is planning to start the Phase 1 clinical trial for this indication in 2023. The company's stock is down 25.9% this year, while the broader S&P 500 (S&P:SPX) has declined 19.9%.