Shares of Orchard Therapeutics saw an increase in value today after the company announced that the U.S. Food and Drug Administration (FDA) has accepted the filing of its biologics license application. This application is for the treatment of metachromatic leukodystrophy, a rare disease affecting the central nervous system.
Currently, shares of Orchard Therapeutics are trading at $5.75, up 11% from the previous close. The stock has experienced a substantial 55% increase since the beginning of the year and a 23% increase over the past 12 months.
Orchard Therapeutics’ treatment, OTL-200, has already gained both rare pediatric disease and regenerative medicine advanced therapy designations from the FDA. This recent acceptance of the filing under priority review is another significant step forward for the gene therapy biotechnology company.
Chief Executive Bobby Gaspar expressed the company’s commitment to making OTL-200 available to patients in the U.S. as quickly as possible. They are currently working diligently to prepare for a potential launch in 2024.
Metachromatic leukodystrophy is a hereditary disease that causes damage to the central nervous system. Orchard Therapeutics’ innovative treatment offers hope for patients affected by this rare condition.