Stealth BioTherapeutics Corp (Nasdaq: MITO) is up more than 50% on FDA approval.

BOSTON, May 12, 2022 /PRNewswire/ — Stealth BioTherapeutics Corp (Nasdaq: MITO), a clinical-stage biotechnology company focused on the discovery, development, and commercialization of novel therapies for diseases involving mitochondrial dysfunction, announced today that the US Food and Drug Administration (FDA) Office of Orphan Products Development has granted Orphan Drug Designation to elamipretide for the treatment of patients with Duchenne muscular dystrophy (DMD)

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https://www.prnewswire.com/news-releases/stealth-biotherapeutics-receives-orphan-drug-designation-from-fda-for-elamipretide-for-treatment-of-duchenne-muscular-dystrophy-301545679.html