Cerecor's investigational COVID-19 therapy gets Fast Track designation from the FDA

Cerecor's investigational COVID-19 therapy gets Fast Track designation from the FDA

Shares of Cerecor Inc. gained 17.3% in premarket trading on Tuesday after the company said its experimental COVID-19 drug had received a Fast Track designation from the Food and Drug Administration. The treatment candidate is a monoclonal antibody being targeted at people with COVID-19 who are sick enough to be hospitalized. Cerecor's stock is down 3.8% for the year, while the S&P 500 is up 11.5%.