09:26 AM EDT, 08/12/2024 (MT Newswires) -- Wave Life Sciences ( WVE ) said Monday the US Food and Drug Administration has given rare pediatric disease designation to its drug candidate WVE-N531 to treat boys with Duchenne muscular dystrophy who are amenable to exon 53 skipping.

The drug is being assessed in a trial that enrolled 11 boys with the disease and Wave expects to release data in Q3, the company said.

Wave shares were rising past 4% in recent Monday premarket activity.

Price: 5.66, Change: +0.25, Percent Change: +4.62