(Reuters) – The U.S. Food and Drug Administration on Friday approved bit.ly/2pIFzi5 Aquestive Therapeutics’ treatment for neurological disorder amyotrophic lateral sclerosis (ALS).
Shares of the company, which developed riluzole oral film (ROF) and will market the film under the brand name Exservan, rose 4% at $6.76 after the bell.
ALS is an ultra-rare neurodegenerative disorder that causes the death of neurons controlling voluntary muscles, with more than 6,000 people diagnosed with the disease in the United States every year, according to the ALS Association.
The New Jersey-based drugmaker earlier this month gave Italian drugmaker Zambon S.p.A. license to develop and sell the drug in the European Union.
Reporting by Trisha Roy in Bengaluru; Editing by Amy Caren Daniel