Melinta Therapeutics news for Wednesday concerning approval from the U.S. Food and Drug Administration (FDA) has MLNT stock flying high.
Melinta Therapeutics (NASDAQ:MLNT) says that it now has approval from the FDA for a supplemental New Drug Application. This supplemental New Drug Application is for expanding the use of the company’s BAXDELA drug.
BAXDELA is a drug made by Melinta Therapeutics that treats acute bacterial skin and skin structure infections. It first got approval from the FDA in 2017. Now MLNT is seeking to also use the drug to treat adults that are dealing with community-acquired bacterial pneumonia.
Sue Cammarata, M.D., Chief Medical Officer of MLNT, has this to say about the Melinta Therapeutics news.
“Due to the rise of antibiotic resistance and an aging population, community-acquired bacterial pneumonia, or CABP, remains a challenge for healthcare professionals and has led to a need for new treatment options. BAXDELA’s potency and activity against the most common bacterial pathogens seen in CABP indicate it could play a significant role in the treatment of this life-threatening illness, if approved. We look forward to working with the FDA to help evaluate bringing this potential option to people with CABP as soon as possible.”
The Melinta Therapeutics news of approval from the FDA gives the supplemental New Drug Application a priority review status. The organization has set a review deadline for the application of Oct. 24, 2019.
MLNT stock was up 190% as of Wednesday afternoon.
More From InvestorPlace
- 4 Top American Penny Pot Stocks (Buy Before June 21)
- 7 Value Stocks to Buy for the Second Half
- 7 Hot Stocks to Buy for a Seemingly Sleepy Summer
- 6 Chip Stocks Staring At Big Headwinds in 2019
As of this writing, William White did not hold a position in any of the aforementioned securities.
The post Melinta Therapeutics News: Why MLNT Stock Is Skyrocketing Today appeared first on InvestorPlace.