Nexell Therapeutics

(NEXL)

powered higher after it received orphan drug status from the FDA for its proposed treatment for a blood condition.

The company is currently in phase 3 trials for the drug, which treats an inherited illness called granulomatous disease that can leave patients vulnerable to fatal infections.

Nexell's shares were recently up $2.01, or 207%, to $2.76 in early trading.

Orphan-drug status is granted by the FDA to treatments that offer serious potential benefits to patients with life-threatening conditions.