EMA tags PhaseRx's lead product candidate an Orphan Drug for rare enzyme deficiency disorder; shares ahead 13%

|About: PhaseRx (PZRX)|By:, SA News Editor

Thinly traded nano cap PhaseRx (PZRX +12.9%) is up on a 34x surge in volume in response to the news that the European Medicines Agency has designated lead product candidate PRX-OTC an Orphan Drug for the treatment of ornithine transcarbamylase deficiency, a rare inherited disorder that causes ammonia to accumulate in the blood.

IND-stage PRX-OTC is a therapeutic designed to deliver the mRNA encoding the missing enzyme into liver cells.

Among the benefits of Orphan Drug status in the EU is a 10-year period of market exclusivity for the indication, if approved.