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FDA allows Oxygen Biotherapeutics to proceed with brain drug trials
March 4, 2014 / 1:35 PM / 4 years ago

FDA allows Oxygen Biotherapeutics to proceed with brain drug trials

March 4 (Reuters) - Oxygen Biotherapeutics Inc said the U.S. Food and Drug Administration had lifted an order suspending trials of its experimental brain injury drug, sending the company’s shares up by more than a third in premarket trading.

Oxygen Biotherapeutics said it was currently enrolling patients outside of the United States in a mid-stage study to evaluate the treatment, Oxycyte, in patients with severe non-penetrating traumatic brain injury.

The Morrisville, North Carolina-based company’s shares closed at $6.20 on the Nasdaq on Monday. (Reporting by Natalie Grover in Bangalore; Editing by Kirti Pandey)

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