Amicus Therapeutics shares soar on FDA approval of drug against fat buildup in organs

Amicus Therapeutic (NASDAQ:FOLD) stock climbed Monday after the US Food and Drug Administration approved its oral drug to treat a rare, sometimes fatal buildup of fat in several organs.

The Galafold therapy is the first new treatment of Fabry disease in 15 years. It is an inherited disorder resulting from the accumulation of a type of fat in the body’s cells and could contribute to complications such as kidney damage, heart attack and stroke, according to the US National Library of Medicine.

Shares of Amicus were up almost 5% to US$16.10 in premarket action. The stock closed on Friday up 1.6% at US$15.35.

The Galafold therapy is a capsule taken once a day at the same time. As a condition of accelerated approval, Amicus will continue to study Galafold in a phase 4 program. It is estimated that 3,000 people live in the US with Fabry disease. 

Amicus is based in Cranbury, New Jersey. The company focuses on developing treatments for rare metabolic diseases.

Contact Rene Pastor at [email protected]

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