FDA Approves Aimmune's (AIMT) Palforzia, Stock Up 17% In After-Hours

(RTTNews) - The FDA has approved Aimmune Therapeutics Inc.'s (AIMT) Palforzia for the treatment of peanut allergy in patients aged 4 through 17 years.

Up-dosing and maintenance may be continued in patients 4 years of age and older, and the drug is to be used in conjunction with a peanut-avoidant diet, the Company noted.

Palforzia is not only the first approved therapy for peanut allergy but is also the first approved therapy for any food allergy. It is not indicated for the emergency treatment of allergic reactions, including anaphylaxis.

AIMT closed Friday's trading at $31.05, down 2.91%. In after-hours, the stock was up 16.88% to $36.29.