XOMA +4% as gevokizumab wins FDA orphan drug status

|About: XOMA Corporation (XOMA)|By:, SA News Editor

XOMA Corp. (XOMA +4%) hits a new 52-week high after confirming late yesterday that the FDA granted orphan drug status for its gevokizumab antibody as a treatment for the treatment of pyoderma gangrenosum, a condition which causes skin tissue to develop deep uclers.

Gevokizumab is now in Phase III testing to measure its ability to treat acute, non-infectious inflammation of the iris and other vascular structures of the eye in patients with Behcet's uvelitis.