Prevail Therapeutics (NASDAQ: PRVL) shares are trading higher after the company received FDA fast track designation for PR001 for the treatment of Parkinson's disease patients with a GBA1 mutation.

“We are pleased that the FDA has granted Fast Track Designation for PR001, which underscores the unmet need of patients with Parkinson’s disease with a GBA1 mutation, a chronic and progressive neurodegenerative disorder that comprises 7% to 10% of the total Parkinson’s disease population worldwide,” said CEO Asa Abeliovich.

“With no treatments available that modify the progressive course or the underlying disease process of Parkinson’s disease, a potential disease-modifying therapy like PR001 could significantly transform the lives of patients with this disease.”

Prevail Therapeutics shares traded higher by 6.5% to $11.20 at time of publication. The stock has a 52-week high of $16.90 and a 52-week low of $9.83.

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