Updated from 9:17 a.m. EDT
jumped Wednesday after the company won fast-track regulatory approval for its vaccine for kidney disease patients.
The Rockville, Md.-based company said late Tuesday that the Food and Drug Administration had awarded the special status to its StaphVAX vaccine, which is currently in a phase III clinical trial, for the prevention of staphylococcus aureus bloodstream infections in end-stage renal, or kidney, disease patients.
Nabi's vaccine is designed to stimulate the patient's immune system to build antibodies against infection.
The fast-track designation is meant to expedite the approval process for drugs that have shown potential to meet an important medical need.
Shares rose 52 cents, or 3.9%, to $13.83.