What In The World Is Going On With Benetic Biopharma (BNTC) Stock

Benetic Biopharma Inc BNTC shares are trading higher by 46.35% to $0.29 Monday morning after the company announced it received FDA clearance of the IND for BB-301 for the treatment of Oculopharyngeal Muscular Dystrophy.

What Happened?

Benitec Biopharma has received FDA clearance for its Investigational New Drug (IND) application for BB-301, a gene therapy targeting Oculopharyngeal Muscular Dystrophy-related Dysphagia. Oculopharyngeal Muscular Dystrophy is a life-threatening genetic disorder affecting thousands of patients worldwide.

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Benitec Biopharma says BB-301 represents a potential breakthrough in treating the debilitating symptoms of this condition. Subjects from Benitec's ongoing NH study will have the opportunity to participate in the Phase 1b/2a clinical study of BB-301, with interim safety and efficacy data expected at regular intervals.

The company says this milestone marks a significant advancement for both Benitec and patients with OPMD-related Dysphagia.

According to data from Benzinga Pro, BNTC has a 52-week high of $2.10 and a 52-week low of $0.13.