Catalyst Biosciences Wednesday reported that the European Commission has granted orphan medicinal product designation to its drug CB 2679d/ISU304, a clinical-stage candidate to treat hemophilia B. The company’s stock traded up 3.8% pre-bell.
Catalyst said the orphan drug status offers include the potential for conditional marketing authorization and ten years of market exclusivity in Europe. The company said its drug may provide significant benefits to hemophiliac patients in comparison to existing treatments, and may allow for subcutaneous prophylactic treatment of individuals with hemophilia B.
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