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