India, July 21 -- ProMIS Neurosciences, Inc. (PMN) soared 179.48 percent to $1.23 on Monday after the U.S. FDA granted Fast Track designation to PMN310, the company's lead therapeutic candidate for Alzheimer's disease.
The stock opened at $1.30 and traded between $0.9403 and $1.59, compared to a previous close of $0.4401 on the Nasdaq. Its 52-week range is $0.38 to $2.20. Trading volume exploded to about 247.4 million shares, far above the average of 1.74 million.
The designation is aimed at expediting development and review of drugs addressing serious conditions with unmet medical needs, potentially providing a quicker path to approval for PMN310.
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