Neuren Pharmaceuticals (ASX:NEU) said that the US Food and Drug Administration (FDA) granted fast track designation to its drug candidate NNZ-2591 used for the potential treatment of Pitt Hopkins syndrome (PTHS), according to a Tuesday filing with the Australian bourse.

PTHS is a rare neurodevelopmental disorder with no approved treatment, the filing said.

Shares of the company rose past 5% in recent Wednesday trade.