CERC - FDA grants fast track status to Cerecor's COVID-19 treatment

Cerecor (CERC) announces that the U.S. FDA has granted Fast Track status to CERC-002 for treatment of hospitalized patients with COVID-19.The company's shares were up 15% during premarket trading.CERC-002 is a first-in-class fully human monoclonal antibody targeting LIGHT (tumor necrosis factor superfamily member 14, TNFSF14).Fast Track designation is granted to drugs being developed for the treatment of serious or life-threatening diseases or conditions where there is an unmet medical need.The purpose of the provision is to help facilitate development and expedite the review of drugs to treat serious or life-threatening conditions so that an approved product can reach the market expeditiously.

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FDA grants fast track status to Cerecor's COVID-19 treatment