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AstraZeneca, Ionis plan to seek FDA approval for rare-disease therapy this year

MarketWatch logo MarketWatch 6/21/2022 Jaimy Lee
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U.S.-listed shares of AstraZeneca were up 2.5% in trading on Tuesday after the company said an experimental therapy for hereditary transthyretin-mediated amyloid polyneuropathy met its primary endpoints in a Phase 3 clinical trial. AstraZeneca is developing eplontersen with Ionis Pharmaceuticals Inc. ; shares in Ionis were up 5.1% on Tuesday. The rare disease can cause nerve damage and motor disability and affects about 40,000 people worldwide, the companies said. They also said they plan to seek Food and Drug Administration approval for eplontersen this year. AstraZeneca's stock has gained 7.5% so far this year, while the broader S&P 500 is down 22.9%.

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