Shares soar as ‘break­through’ news in biotech con­tin­ues to run hot this week

The FDA has been work­ing over­time this week hand­ing out new break­through ther­a­py des­ig­na­tions for a whole slate of biotech drugs in the clin­ic. But five years af­ter the pro­gram was launched, in­vestors are still ready to cheer on each an­nounce­ment with a big spike in stock prices.

Waltham, MA-based Pro­teon Ther­a­peu­tics nabbed a BTD for von­a­pan­i­tase for in­creas­ing ar­te­ri­ove­nous fis­tu­la sec­ondary pa­ten­cy (sur­vival of the fis­tu­la with­out aban­don­ment) and use for he­modial­y­sis in pa­tients on or ex­pect­ed to ini­ti­ate he­modial­y­sis. Its stock $PRTO surged 23% on the news Wednes­day.

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