Updated from 9:17 a.m. EDT

Shares in

Nabi Biopharmaceuticals

(NABI)

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.