BUZZ — Ultragenyx rises after FDA nod for rare disorder drug

* Shares of drugmaker Ultragenyx Pharmaceutical rise 1% to $14.65 premarket, after closing up 12.58% on Thursday * US Food and Drug Administration late on Thursday approved Ultragenyx's gene therapy, Fayuvi, as the first treatment for children with Sanfilippo syndrome Type A * Sanfilippo syndrome Type A is an inherited condition that progressively damages the brain and nervous system * RARE set a US list price of $3.95 million for Fayuvi, launching one of the world's most expensive drugs as a one-time treatment for a rare, fatal childhood disease * Abeona Therapeutics out-licensed Fayuvi to Ultragenyx in 2022, granting the company global development and commercialization rights for the therapy * ABEO shares up 3.5% premarket * ABEO is eligible to receive certain commercial milestone payments and royalties tied to future product sales * As of last close, RARE shares down ~37% YTD (Reporting by Padmanabhan Ananthan) ((mailto:Padmanabhan.Ananthan@thomsonreuters.com)