ChromaDex Corp. (CDXC) announced on Friday that its compound Nicotinamide Riboside Chloride (NRC) has been granted Orphan Drug Designation and Rare Pediatric Disease Designation by the U.S. Food and Drug Administration (FDA) for the treatment of patients with Ataxia Telangiectasia (AT).
The biotechnology company highlighted that AT is a rare, progressive disorder characterized by neurological and immunological symptoms, which ultimately result in cerebellar degeneration.
This designation follows findings that NRC improved AT scores and boosted immunoglobulin levels, or antibodies, in immune-compromised patients during studies. Additionally, the drug enhanced neuromotor coordination and eye movement in 90 percent of study participants.
ChromaDex plans to submit an Investigational New Drug (IND) application for upcoming human clinical trials to further explore NRC's potential.
As of now, ChromaDex's stock is experiencing a significant rise, up 19.58 percent to $3.42, from its previous close of $2.86 on the Nasdaq.
