Reata Pharma Shares Climb Premarket After FDA OKs Prior-Approval Supplement for Skyclarys

By Robb M. Stewart

Reata Pharmaceuticals' shares look set for a strong open Wednesday after the biopharmaceutical company received regulatory approval to offer its drug for the treatment of Friedreich's ataxia in the U.S.

In premarket trading, the shares were 12% higher after ending the previous session at $92.39.

Reata after the market closed Tuesday said the U.S. Food and Drug Administration approved the prior-approval supplement to update the drug substance specification for Skyclarys.

Skyclarys is the first and only FDA-approved drug for the treatment of Friedreich's ataxia in adults and adolescents aged 16 years and older. With this approval, the drug is now available to patients with Friedreich's ataxia in the U.S., Reata said.

Friedreich's ataxia is an ultra-rare, genetic, life-shortening, debilitating and degenerative neuromuscular disorder.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

June 28, 2023 07:05 ET (11:05 GMT)

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