Aeolus rockets on US orphan status for AEOL 10150 for IPF
Shares of US biotech firm Aeolus Pharmaceuticals (OTC: AOlS) leapt 27.9% to $0.32 yesterday, after the company revealed that it has received notice from the Office of Orphan Products Development at the US Food and Drug Administration granting Orphan Drug Designation for AEOL 10150 for the treatment of idiopathic pulmonary fibrosis (IPF).
Orphan status entitles the sponsor to a seven-year marketing exclusivity period, clinical protocol assistance with the FDA, as well as federal grants and tax credits.
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