Calliditas Therapeutics AB's American depositary receipts (CALT, +6.84%) soared 15% in premarket trading on Thursday following the announcement that their kidney treatment, Tarpeyo, has received full approval from the U.S. Food and Drug Administration (FDA). This groundbreaking approval marks a major advancement in the treatment of primary immunoglobin A nephropathy (IgAN), a condition that leads to protein accumulation and inflammation in the kidneys, resulting in impaired kidney function.

According to Calliditas, Tarpeyo is now officially recognized as the first FDA-approved treatment for IgAN, based on its ability to effectively reduce the loss of kidney function in adults. This monumental achievement not only benefits patients suffering from IgAN but also sets a promising precedent for other biotech companies, such as Travere Therapeutics Inc. (TVTX, -4.36%), that are actively engaged in developing treatments for rare kidney diseases.

Leerink Partners analysts emphasized the positive implications of Calliditas' approval on the broader landscape of rare kidney disease treatments. In a report released on Wednesday, they stated that this development is an encouraging sign for Travere Therapeutics, which recently announced its plan to seek full FDA approval for its IgAN treatment, Filspari, during the first quarter of next year.

The market has responded favorably to Calliditas' recent achievements, with the company's shares rising by an impressive 32% year-to-date. This notable growth outpaces the 22% gain of the S&P 500 index thus far this year.

(Retrieved from source).

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