By Colin Kellaher


Abeona Therapeutics shares touched a five-month high on Monday after the Food and Drug Administration said it would expedite a review of the company's proposed treatment for a rare, inherited connective-tissue disorder.

Shares of the Cleveland-based clinical-stage biopharmaceutical company rose to $5.05, its highest intraday level since June 23, and recently changed hands at $5, up 16%.

The company said the FDA granted a priority review for its application seeking approval of its pz-cel drug candidate to treat patients with recessive dystrophic epidermolysis bullosa.

Abeona had previously said it expected an FDA decision on priority-review status by late November.

The FDA grants priority review to medicines that have the potential to provide significant improvements in the treatment of a serious disease, and the designation shortens the review period.

Abeona said the FDA set a target action date of May 25 for the application, and that the agency doesn't currently plan to hold an advisory committee meeting.


Write to Colin Kellaher at colin.kellaher@wsj.com


(END) Dow Jones Newswires

11-27-23 1056ET