Shares of biopharmaceutical company Aimmune Therapeutics (AIMT) - Get Report were halted by the Nasdaq Friday as the Food and Drug Administration conducts an efficacy meeting concerning the company's peanut allergy treatment candidate Palforzia.
The FDA Allergenic Products Advisory Committee is holding a meeting until 4:30 p.m. ET to discuss safety and efficacy data in connection to a licensing application for the drug.
The drug is designed to reduce the incidence and severity of allergic reactions for children aged 4 through 17 with peanut allergies.
At the start of the drug's trial all patients had a reaction to a third of a single peanut, but after a year of treatment 67% of patients could tolerate about two peanuts, the company said. If approved, Palforzia would be the first FDA-approved peanut allergy treatment.
Aimmune closed Thursday's session at $24.67.