BUZZ-NKGen jumps on FDA's 'fast track' designation for Alzheimer's drug

Drug developer NKGen Biotech's shares NKGN.O surge 26% to 47 cents

Company says U.S. FDA has granted "fast track" designation for its experimental drug, troculeucel, for the treatment of moderate Alzheimer's disease, a neurodegenerative disorder that causes cognitive impairment

The FDA's "fast track" program is designed to facilitate the development and expedite review of drug candidates that aim to treat serious conditions and fulfill an unmet medical need

NKGN is also developing the drug as a treatment for other neurodegenerative disorders and a broad range of cancers

Stock fell ~71% in the last 12 months