Reata Pharma Spikes 15%

Reata Pharmaceuticals, Inc. (RETA) shares are surging more than 15 percent on Friday morning.

The company on Thursday had said the FDA does not plan to hold an advisory committee meeting in connection with its review of Reata's New Drug Application for omaveloxolone for the treatment of Friedreich's ataxia.

Reata said it will continue to work towards getting approval of omaveloxolone.

Currently, shares are at $28.91, up 15.41 percent from the previous close of $25.05 on a volume of 1,567,819.

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