Praxis Precision climbs after FDA's 'breakthrough' tag for tremor drug

Shares of drug developer Praxis Precision Medicines PRAX.O rise 14.9% to $309.03

PRAX says U.S. Food and Drug Administration has granted "breakthrough" tag for its experimental drug, ulixacaltamide, to treat patients with essential tremor

The breakthrough therapy tag is meant to speed up development and review of drugs to treat serious conditions or those with unmet medical needs

Essential tremor is a neurological movement disorder that causes involuntary, rhythmic shaking in the hands, arms, head or voice

Including session's moves, stock has more than tripled YTD