Why BioMarin Pharmaceutical Stock Jumped by 10.3% on Friday
Shares of the rare-disease specialist BioMarin Pharmaceutical (NASDAQ: BMRN) shot up by 10.3% on Friday. The drugmaker's stock took flight yesterday in response to the Food and Drug Administration (FDA) green-lighting the biotech's achondroplasia treatment, Voxzogo, for patients 5 years of age and older with open epiphyses (growth plates).
Achondroplasia is the most common form of genetically based disproportionate short stature. The FDA granted the drug a conditional approval contingent on additional data from ongoing studies. Earlier this year, Voxzogo was approved for use in the European Union. In Europe, the drug is indicated for children two years of age until the closure of their growth plates.
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Source Fool.com
