Precision BioSciences rises after FDA's 'orphan drug' tag for muscle disorder therapy

** Shares of gene editing company Precision BioSciences DTIL.O rise 10.1% to $5.37 premarket

** Company says the U.S. FDA has granted "orphan drug" tag for its experimental drug, PBGENE-DMD, for the treatment of Duchenne muscular dystrophy (DMD)

** FDA grants orphan drug status to promote drug development for rare diseases affecting fewer than 200,000 people in the U.S.

** DMD causes skeletal and heart muscle weakness that quickly worsens with time

** Expects clinical data for its DMD therapy in 2026

** Up to last close, stock up 27.6% YTD