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Beyond Air, Inc. (XAIR) Stock: Orphan Drug Win Sparks Volatility Amid NeuroNOS Cancer Pipeline Hype
In a sudden and dramatic turn of events, Beyond Air, Inc.’s subsidiary, NeuroNOS, has been awarded an Orphan Drug Designation (ODD) by the U.S. FDA for its investigational therapy BA-101. While this news initially sent XAIR stock soaring 49.77% in intraday trading to close at $3.31, the stock later reversed and dropped 10.57%, ending the day at $2.96.
The sudden and dramatic price fluctuation is attributed to the FDA’s Orphan Drug Designation for BA-101, which will grant significant regulatory benefits to NeuroNOS. This designation provides a tax credit, user fee waivers, and a seven-year market exclusivity, boosting the program’s commercial viability and progress in rare disease therapies.
The ODD granted by the FDA further emphasizes Beyond Air’s strategic move into neuro-oncology through its subsidiary NeuroNOS pipeline.
Source: coincentral.com
