ChromaDex Corp. (CDXC) announced on Friday that the company's Nicotinamide Riboside Chloride or NRC has received the U.S. Food & Drug Administration's Orphan Drug Designation and Rare Pediatric Disease Designation for the treatment of patients with Ataxia Telangiectasia or AT.
The biotechnology company noted AT is a rare, progressive disease, causing neurological and immunological symptoms, eventually leading to cerebellar degeneration.
The designation comes as NRC improved AT scores and increased immunoglobulins, or antibodies, in the immune-compromised patients during the study. Also, the drug improved neuromotor coordination and eye movements in 90 percent of participants in the study.
Further, ChromaDex is planning to file an Investigational New Drug application for future human clinical trials for the use of NRC.
Currently, ChromaDex's stock is climbing 19.58 percent, to $3.42 over the previous close of $2.86 on the Nasdaq.
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