PYC Therapeutics (ASX:PYC) said the US Food and Drug Administration has granted Rare Pediatric Disease (RPD) designation to its drug candidate VP-001 for treating retinitis pigmentosa type 11, a blinding childhood eye disease, according to a Monday filing with the Australian bourse.
Currently in phase 1/2 studies, VP-001 is set to enter a potentially registrational trial in 2025, the filing said.
The RPD designation supports the development of therapies for serious, rare pediatric conditions, the filing added.
Shares of the company fell almost 4% in recent Monday trade.
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