Vanda Pharmaceuticals Inc., a publicly-traded company on the Nasdaq, announced on Wednesday that it received approval from the U.S. Food and Drug Administration (FDA) for its Investigational New Drug application for VTR-297, a novel treatment for onychomycosis.
Onychomycosis, also known as tinea unguium, is a fungal nail infection known to cause both cosmetic issues and in rare cases, decreased peripheral circulation.
According to Vanda's representatives, VTR-297 is a small, molecular histone deacetylase (HDAC) inhibitor that functions as an antifungal antibiotic. This innovative treatment intends to join the likes of Jublia, Kerydin, and Penlac, already existing treatments for onychomycosis.
Following this announcement, Vanda's stock has seen an increase of 0.24 percent, currently trading at $3.65 on the Nasdaq.
