09:15 AM EDT, 09/19/2024 (MT Newswires) -- Longboard Pharmaceuticals ( LBPH ) said Thursday its investigational drug bexicaserin for the treatment of Dravet syndrome has received Rare Pediatric Disease and Orphan Drug designations from the US Food and Drug Administration.

The Orphan Drug designation provides further regulatory support as the company progresses the development of bexicaserin, said Longboard Chief Medical Officer Randall Kaye.

The Rare Pediatric Disease designation provides the company with an opportunity to get a Priority Review Voucher that can be used for priority review of another Longboard compound or monetized, Kaye said.

Longboard shares were up 4% in premarket activity.

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