Fortress Biotech jumps as FDA clears first rare pediatric disease treatment

Shares of drug developer Fortress Biotech FBIO.O rise 11.7% to $4.69 premarket

Co says U.S. FDA has approved Zycubo, the first treatment for Menkes disease, a rare and often fatal genetic disorder affecting copper absorption in children

FBIO's Zycubo, developed by Cyprium Therapeutics, is a daily injectable that restores copper levels

Co says early treatment cut death risk by nearly 80% vs. untreated patients

Cyprium will receive royalties and up to $129 million in milestone payments from Sentynl Therapeutics, which now handles development and sales of the drug

Most common side effects are infections, seizures, anemia - FBIO

As of last close, FBIO up ~81% over the past year