By Chris WackCadrenal Therapeutics Inc. shares were up 7% to $4.42 Monday after the company said the U.S. Food and Drug Administration granted a fast-track designation to tecarfarin, its anti-blood clotting drug. The FDA's fast-track designation is intended to expedite the review of drugs to treat serious conditions and fill unmet medical needs. The FDA had previously granted tecarfarin an orphan drug designation. On Friday, Cadrenal had its initial public offering and its stock ended 4% higher. Write to Chris Wack at chris.wack@wsj.com(END) Dow Jones NewswiresJanuary 23, 2023 13:33 ET (18:33 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal January 24, 2023 06:39 UTC