Business Corpus: Is This Biotech Stock Turning A Corner? Acer Pops On FDA AcceptanceAcer Therapeutics jumped Wednesday after the FDA accepted its application for a drug to treat a connective-tissue disorder. The drug, Edsivo, would treat patients with a genetic mutation. The post Is This Biotech Stock Turning A Corner? Acer Pops On FDA Acceptance appeared first on Investor's Business Daily.

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Acer Therapeutics (ACER) jumped Wednesday after the Food and Drug Administration accepted its application for a drug to treat a connective-tissue disorder.

On the stock market today, Acer stock popped 11.3% to 18.42 on above-average volume. Shares of other biotech stocks advanced around 5.5% after falling for eight straight sessions.

The FDA plans to review Acer's drug on June 25, 2019, under a priority review. Priority review allows the FDA to consider a drug within six months rather than the typical 10. The drug, known as Edsivo, would treat vascular Ehlers-Danlos syndrome.

"The acceptance of our (application) for Edsivo is an important step in our efforts to help patients with (vascular Ehlers-Danlos syndrome), who suffer with a devastating disease that currently has no approved treatment," said Acer Chief Medical Officer William Andrews in a statement.

Treating A Connective-Tissue Disorder

Vascular Ehlers-Danlos syndrome is an inherited connective-tissue disorder. Patients suffer from life-threatening arterial dissections and ruptures, Acer said in a news release. Ruptures can also occur in the intestine and uterus.

Edsivo would treat patients who have a mutation of the gene that produces collagen. Collagen is a key protein in the body that helps to connect tissues. There are no current therapies approved to treat vascular Ehlers-Danlos syndrome.

Already, Acer says it's preparing to commercialize the drug in the U.S.

"Additionally, we are working diligently on advancing and expanding our pipeline with the goal of bringing multiple products to patients with serious rare diseases over the next several years," Acer Chief Executive Chris Schelling said in a statement.

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The post Is This Biotech Stock Turning A Corner? Acer Pops On FDA Acceptance appeared first on Investor's Business Daily.