Why PhaseBio's stock rose 16 percent Tuesday

PhaseBio's stock closed up 16 percent at $14.61 per share on Tuesday after the company received a key designation from the Food and Drug Administration. The jump came after the FDA granted "breakthrough therapy" status to one of the Malvern company's lead new drug candidate. The experimental product, PB2452, is being developed by PhaseBio as a reversal agent for the antiplatelet drug ticagrelor — marketed by AstraZeneca as Brilinta. Brilinta is most commonly prescribed in heart patients to prevent…
Source: bizjournals.com Health Care News Headlines - Category: Health Management Authors: Source Type: news