Recursion Pharmaceuticals Shares Rise 8% After Fast Track Designation

By Chris Wack

Recursion Pharmaceuticals Inc. shares rose 8% to $20.03 after the company said the U.S. Food and Drug Administration granted fast track designation for the investigation of REC-2282 for treatment of patients with NF2-mutated meningiomas, including neurofibromatosis type-2 disease-related meningiomas.

The biotechnology company said its REC-2282 is a potentially first-in-class, orally bioavailable, CNS-penetrant small molecule HDAC inhibitor being developed for the treatment of NF2-mutated meningiomas.

The fast track designation speeds up the review of investigational drugs to treat serious conditions and address unmet medical needs by enabling important drugs to get to patients earlier if approved. The designation can lead to more frequent interactions with the FDA, as well as accelerated approval and/or priority review eligibility if certain criteria are met.

The company said the fast track designation is moving the drug toward a Phase 2/3, randomized, multicenter study in patients with NF2-mutated meningiomas, which it expects to begin enrollment for early next year.

Write to Chris Wack at [e-mail]

(END) Dow Jones Newswires

10-07-21 1107ET