Nivalis cystic fibrosis drug gets key FDA 'orphan' designation

Nivalis Therapeutics Inc. said the U.S. Food and Drug Administration has given its N91115 cystic fibrosis drug an "orphan drug" designation, and the company's shares soared in Friday trading. Boulder-based Nivalis (Nasdaq: NVLS) shares rose more than 15 percent, rising 77 cents to close at $5.75 on Friday after the FDA announcement. An "orphan drug" designation is given to drugs for diseases that affect less than 200,000 people in the U.S., and gives a drug company a seven-year marketing exclusivity…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news