July 8, 2014 / 12:55 PM / 3 years ago

FDA approves Anacor Pharma's drug for nail infection

July 8 (Reuters) - Anacor Pharmaceutical Inc said the U.S. Food and Drug Administration approved its treatment for a fungal infection of the nail, sending the drug developer's shares up about 9 percent in premarket trade.

The topical solution, Kerydin, is expected to be launched as early as the end of the quarter to treat onychomycosis of the toenails, the company said on Tuesday.

Onychomycosis is a progressive, recurring fungal infection of the nail and nail bed and affects about 35 million people in the United States, Anacor said.

The Palo Alto, California-based company's stock closed at $16.74 on the Nasdaq on Monday. (Reporting by Natalie Grover in Bangalore; Editing by Sriraj Kalluvila)

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