** Drug developer NKGen Biotech's shares NKGN.O surge 26% to 47 cents
** Company says U.S. FDA has granted "fast track" designation for its experimental drug, troculeucel, for the treatment of moderate Alzheimer's disease, a neurodegenerative disorder that causes cognitive impairment
** The FDA's "fast track" program is designed to facilitate the development and expedite review of drug candidates that aim to treat serious conditions and fulfill an unmet medical need
** NKGN is also developing the drug as a treatment for other neurodegenerative disorders and a broad range of cancers
** Stock fell ~71% in the last 12 months
(Reporting by Padmanabhan Ananthan)
((Padmanabhan.Ananthan@thomsonreuters.com))
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