Wed. Nov 13th, 2019

Akari Therapeutics shares soar 13% premarket after FDA grants Orphan Drug designation to nomacopan

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Akari Therapeutics PLC shares

AKTX, +12.21%

soared 13% in premarket trade Friday, after the company said it has won U.S. Food and Drug Administration Orphan Drug Designation for nomacopan for the treatment of hematopoietic stem cell transplantation-associated thrombotic microangiopathy (HSCT-TMA), a rare disorder. The designation comes after the FDA granted nomacopan Fast Track Designation, which means the regulator will accelerate the approval process. “The granting of orphan drug designation and Fast Track designation by the FDA for nomacopan underscores the significant unmet medical need in this disease,” said Clive Richardson, Akari chief executive, in a statement. Shares have gained 22.9% in 2019, while the S&P 500

SPX, +1.27%

has gained 16.6%.

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