Eledon Pharmaceuticals (ELDN) announced the FDA has granted Orphan Drug designation to tegoprubart for the prevention of allograft rejection in liver transplantation. Tegoprubart has previously received orphan drug designation for the prevention of allograft rejection in pancreatic islet cell transplantation and for the treatment of amyotrophic lateral sclerosis.
David-Alexandre Gros, CEO of Eledon, said: "Based on the encouraging preclinical evidence we have generated to date, we believe liver transplantation represents a significant incremental opportunity for tegoprubart, and we look forward to evaluating its potential in the clinical setting through an anticipated investigator sponsored trial initiating later this year."
In pre-market trading on NasdaqCM, Eledon Pharma shares are up 6.9 percent to $3.1.
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