WASHINGTON (dpa-AFX) - Adicet Bio, Inc. (ACET) announced on Wednesday that the FDA has given Fast Track Designation to ADI-001 for potentially treating relapsed/refractory class III or class IV lupus nephritis. Following this announcement, the stock is up 12% in pre-market trading.
Lupus nephritis is an autoimmune disease that affects the kidneys.
The biotech company also stated that it intends to start a Phase 1 clinical study in lupus nephritis later this month.
In the pre-market session on the Nasdaq, the shares are trading at $1.53, up 12.50%.
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