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Why Thinly Traded Biotech Akari Is Jumping More Than 150%

March 13, 2019 / Shanthi Rexaline

Akari, which focuses on developing therapies for treating orphan autoimmune and inflammatory diseases, said it had a positive Type B, pre-IND meeting with the FDA regarding it's lead product candidate Coversin for pediatric hematopoietic stem cell transplant-related thrombotic microangiopathy or HSCT-TMA. Type B meetings are routine meetings a sponsor of a drug has with the FDA at predefined endpoints. A pre-IND meeting is held between the company and the FDA ahead of the filing of an investigational new drug application, a means for securing legal exemption from the federal law that mandates an approved marketing application for the drug to be transported or distributed across state lines. HSCT, commonly known as bone marrow transplantation, refers to the intravenous infusion of hematopoietic stem and progenitor cells in a bid to establish marrow and immune functions. TMA is a type of damage that can occur in blood capillaries in many vital organs, most commonly in the kidney and ...