Syros Shares Up 10% After Getting FDA Orphan Drug Designation for Tamibarotene
February 02 2022 - 5:16PM
Dow Jones News
By Stephen Nakrosis
Shares of Syros Pharmaceuticals are trading higher in
Wednesday's after-hours market, following the company's
announcement the U.S. Food and Drug Administration granted orphan
drug designation to tamibarotene to treat myelodysplastic
syndrome.
The FDA grants orphan drug status to treatments for rare
diseases and the designation qualifies the sponsor of the drug for
various development incentives, including tax credits for qualified
clinical testing.
At 4:42 p.m. ET, the company's shares were trading 10.36% higher
at $2.13 a share.
The stock finished the day's regular-trading session with a
6.76% loss, closing at $1.93 a share.
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
February 02, 2022 17:01 ET (22:01 GMT)
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