Biotech Pops On FDA Fast Track Designation
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Biotech Pops On FDA Fast Track Designation

Biotech Pops On FDA Fast Track Designation By: Dylan Sikes – AllPennyStocks.com News

Tuesday, June 27, 2023

Any time a biotech stock and the U.S. Food and Drug Administration (FDA) are mentioned within the same press release, there typically are some fireworks to follow. That’s exactly what happened with a Swiss-based small cap announced that it has received Fast Track designation from the FDA for its wholly-owned anti-amyloid beta (Abeta) active immunotherapy (vaccine)-candidate, ACI-24.060, for treatment of Alzheimer’s disease, according to the release.

This sent shares of AC Immune SA (Nasdaq:ACIU) soaring during Tuesday’s session, with share price topping out at $2.70/share (+36.36%) at the session high. This move was a huge breath of fresh air for long term shareholders that have been riding the multi month downtrend. 

AC Immune SA is a clinical-stage biopharmaceutical company that focuses on neurodegenerative diseases. The company uses its proprietary technology platforms to discover, design, and develop novel proprietary small molecules, antibodies, and vaccines for prevention, diagnosis, and treatment of neurodegenerative diseases associated with protein misfolding.


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