Allena's Stock Surges On FDA Fast Track Tag For Chronic Kidney Disease Candidate

The FDA has granted Fast Track designation to Allena Pharmaceuticals Inc's (NASDAQ:ALNA) ALLN-346 for hyperuricemia in gout patients with advanced chronic kidney disease (CKD).
Hyperuricemia is an elevated uric acid level in the blood.
Allena plans to report initial data from the ongoing Phase 2a program in late 2021 or early 2022.
Initial data from the Phase 2a program will potentially assist the company in determining the optimal dosing paradigm and target population for later-stage clinical trials.
ALLN-346 is a non-absorbed, orally-administered enzyme.
Related content: Benzinga's Full FDA Calendar.
Price Action: ALNA shares are up 21% at $1.04 during the market session on the last check Wednesday.