Unicycive Therapeutics Announces Orphan Drug Designation Granted for UNI-494 by the US Food and Drug Administration for the Prevention of Delayed Graft Function in Kidney Transplant Patients
Portfolio Pulse from Benzinga Newsdesk
Unicycive Therapeutics, Inc. (NASDAQ:UNCY), a biotech company, announced that the FDA has granted orphan drug designation to UNI-494 for preventing Delayed Graft Function in kidney transplant patients. UNI-494 is a cytoprotective agent that works by activating KATP channels in mitochondria.

March 04, 2024 | 12:05 pm
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Unicycive Therapeutics received FDA Orphan Drug Designation for UNI-494, aimed at preventing Delayed Graft Function in kidney transplant patients.
Receiving an Orphan Drug Designation from the FDA is a significant positive development for biotech companies, especially those in the clinical stage like Unicycive Therapeutics. This designation not only highlights the potential of UNI-494 in treating a critical area of kidney transplant care but also provides various benefits including tax credits, eligibility for grant funding, and potentially seven years of market exclusivity upon approval. This news is likely to be viewed positively by investors, potentially leading to an increase in stock price in the short term.
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