Biora Therapeutics Shares Rise 64% After FDA Clears Application for Ulcerative Colitis Treatment
01 December 2023 - 10:53AM
Dow Jones News
By Ben Glickman
Shares of Biora Therapeutics rose late Thursday after the
company received clearance from the U.S. Food and Drug
Administration to use its ulcerative colitis treatment in a
clinical trial.
The stock was up 64% to $2.03 in after-hours trading, following
a 2.5% rise at Thursday's close. Shares were down 62% this year as
of the close.
The San Diego-based biotechnology company said the FDA had
approved its investigational new drug application for BT-600, a
drug and device combination used to treat moderate to severe
ulcerative colitis.
The company said it would complete the activities required by
the FDA and the trial site before enrolling subjects in its first
trial in the coming weeks.
An IND allows a company to use an investigational drug in humans
in a clinical study.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
November 30, 2023 18:38 ET (23:38 GMT)
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