Why Is French Pharma Giant Sanofi Stock Trading Higher On Thursday?

The U.S. Food and Drug Administration (FDA) on Thursday granted orphan drug designation to Sanofi SA‘s (NASDAQ:SNY) rilzabrutinib.

The treatment is an investigational, novel, advanced, oral, reversible Bruton's tyrosine kinase (BTK) inhibitor, for two rare diseases, warm autoimmune hemolytic anemia (wAIHA) and IgG4-related disease (IgG4-RD).

The FDA grants orphan drug designation to investigational therapies that address rare medical diseases or conditions that affect fewer than 200,000 people in the US.

Rilzabrutinib is currently under regulatory review in the US, the EU, and China for its potential use in immune thrombocytopenia (ITP).

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https://www.benzinga.com/25/04/44631246/why-is-french-pharma-giant-sanofi-stock-trading-higher-on-thursday