(Reuters) -The U.S. Food and Drug Administration has approved Precigen's immunotherapy to treat adults with a rare respiratory disease, making it the first treatment for the condition to receive the health regulator's nod.

Shares of the company surged more than 81% to $3.36 in premarket trading on Friday.

The therapy, Papzimeos, was approved to treat recurrent respiratory papillomatosis (RRP) — a condition that causes growth of wart-like tumors in the respiratory tract due to human papillomavirus (HPV) infection.

RRP can be fatal as there is no cure and the current standard-of-care is repeated surgeries. A distinguishing aspect of this disease is the tendency for the growth to return even after removing them through surgical procedures.

"Everybody is anxiously awaiting a new treatment

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