Shares of Zevra Therapeutics tumbled after a European regulator adopted a negative opinion of the company's treatment for Niemann-Pick disease type C, a rare and life-threatening neurodegenerative disorder.
The stock fell 27% to $9.20 in premarket trading Friday. Through Thursday's close, shares are up roughly 50% year to date.
Zevra said before the bell that the Committee for Medicinal Products for Human Use of the European Medicines Agency adopted a negative opinion regarding the marketing authorization application for the treatment, called arimoclomol.
Under European regulatory procedures, Zevra said it plans to request a re-examination of the CHMP opinion and submit a detailed explanation outlining the basis for the request.
"While the review did not result in the outcome we had hoped for, we are committed to investigating appropriate pathways to bring arimoclomol to patients in Europe," Chief Executive Neil McFarlane said.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
July 24, 2026 09:10 ET (13:10 GMT)
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