Neurogene Shares Jump 12%

(RTTNews) - Neurogene Inc. (NGNE) shares gained 11.74 percent to $21.99, up $2.31 on Friday, possibly after the company announced that the U.S. Food and Drug Administration granted Breakthrough Therapy designation to its investigational gene therapy NGN-401 for the treatment of Rett syndrome, the previous day.

The stock is currently trading at $21.99, compared with a previous close of $19.68. It opened at $22.96 and has traded between $20.50 and $23.29 during the session on the Nasdaq. Trading volume stands at 0.40 million shares, compared with an average volume of 0.16 million shares.

The designation was based on interim Phase 1/2 trial data demonstrating clinically meaningful and durable functional improvements across multiple Rett syndrome domains. The stock has traded in a 52-week range of $6.88 to $37.27.