FDA approves Reata’s treatment for rare neurological disease

The Food and Drug Administration on Tuesday approved the first drug to treat Friedreich’s ataxia, a rare, neurological disease.

The new drug, called Skyclarys, is made by Reata Pharmaceuticals.

The FDA’s approval decision settles a closely followed drug review that had flummoxed investors trying to predict the outcome. It’s also likely to send Reata shares flying higher after a trading halt is lifted.

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