Capricor Therapeutics' shares rose after its biologics license application for deramiocel to treat a form of muscular dystrophy was given priority review by the Food and Drug Administration.
Shares climbed 10% to $14.99 Tuesday morning. The stock has more than tripled over the past year.
The FDA accepted Capricor's application for approval of its cell therapy deramiocel for patients with Duchenne muscular dystrophy cardiomyopathy, the San Diego company said Tuesday.
The FDA plans to take action on the application by Aug. 31.
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