Reata rockets on approval of Skyclarys for Friedreich's ataxia

1 March 2023

Texan biopharma Reata Pharmaceuticals (Nasdaq: RETA) opened trading more than 180% higher on Wednesday.

The company had just announced that the US Food and Drug Administration (FDA) has approved Skyclarys (omaveloxolone) for the treatment of Friedreich’s ataxia in adults and adolescents aged 16 years and older.

Warren Huff, Reata's chief executive, said: “The approval of Skyclarys, the first therapy specifically indicated for the treatment of Friedreich’s ataxia, is an important milestone for patients affected by this disease as well as their families and caregivers.

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