Rezolute (RZLT) said Tuesday the US Food and Drug Administration has given orphan drug designation to ersodetug to treat hypoglycemia caused by tumor hyperinsulinism.
The designation was designed to encourage the development of treatments for rare diseases, the company said, adding the label offers benefits like seven years of market exclusivity protection and may also quicken the clinical development path.
Rezolute shares were up 1.6% in recent trading.
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