Orphazyme (NASDAQ: ORPH) is falling after the drugmaker announced today that it would delist its American Depositary Shares. The company said that it had started the delisting process and noted that it will take effect on March 31. In early trading, ORPH stock was sinking 5% to 81 cents.
Full Answer
How much did Orphazyme increase?
The stock price of Orphazyme (NASDAQ: ORPH) increased by over 1,386% during intraday trading. This is why it happened. The stock price of Orphazyme (NASDAQ: ORPH) increased by over 1,386% during intraday trading.
What is the purpose of arimoclomol?
Arimoclomol is an investigational drug candidate that amplifies the production of heat shock proteins (HSPs). HSPs are able to rescue defective misfolded proteins, clear protein aggregates, and improve the function of lysosomes. Arimoclomol — which is administered orally — has been studied in 10 phase 1, four phase 2 and three pivotal phase 2/3 ...
Is Arimoclomol approved by the FDA?
Arimoclomol has also received breakthrough therapy designation (BTD) and rare-pediatric disease designation (RPDD) from the FDA for NPC. However, it has not been approved by the FDA. It is now under the FDA priority review with a PDUFA action date of June 17, according to Seeking Alpha.
Is Arimoclomol an orphan drug?
Arimoclomol — which is administered orally — has been studied in 10 phase 1, four phase 2 and three pivotal phase 2/3 trials and it is in clinical development for NPC and Gaucher disease. And Arimoclomol has received orphan drug designation (ODD) for NPC in the US and EU.
When will Orphazyme get FDA approval?
Orphazyme still hopes to win European approval for arimoclomol in early 2022. The company is also evaluating a potential path to still move forward with seeking FDA approval for the experimental drug.
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