Reata Pharmaceuticals Stock Trading Halted Today; FDA Advisory Committee to Discuss Bardoxolone for the Treatment of Patients With Chronic Kidney Disease Caused by Alport Syndrome

Rhea-AI Summary

Reata Pharmaceuticals, Inc. (NASDAQ: RETA) announced that Nasdaq has halted trading of its stock. This follows the U.S. FDA Cardiovascular and Renal Drugs Advisory Committee's review of the company's New Drug Application (NDA) for bardoxolone methyl, aimed at treating chronic kidney disease caused by Alport syndrome. The Advisory Committee meeting is set for December 8, with a review completion date on February 25, 2022. Bardoxolone and omaveloxolone are investigational drugs targeting inflammation and cellular metabolism, with their safety and efficacy not yet established.

Positive

• FDA Advisory Committee reviewing NDA for bardoxolone methyl.
• Meeting scheduled for December 8, 2021, providing a timeline for regulatory review.

Negative

• Trading of REATA's stock has been halted by Nasdaq.

PLANO, Texas--(BUSINESS WIRE)-- Reata Pharmaceuticals, Inc. (Nasdaq: RETA) (“Reata,” the “Company,” or “we”), a clinical-stage biopharmaceutical company, announced today that Nasdaq has halted trading of the Company’s common stock.

The U.S. Food and Drug Administration’s (“FDA”) Cardiovascular and Renal Drugs Advisory Committee (“Advisory Committee”) is meeting to review the Company’s New Drug Application (“NDA”) for bardoxolone methyl (“bardoxolone”) for the treatment of patients with chronic kidney disease caused by Alport syndrome.

The Advisory Committee meeting is scheduled for Wednesday, December 8, from 9:30 am to 5:00 pm ET. The briefing materials can be found on the FDA website at: https://www.fda.gov/advisory-committees/advisory-committee-calendar/december-8-2021-meeting-cardiovascular-and-renal-drugs-advisory-committee-meeting-announcement#event-information. The Prescription Drug User Fee Act date for completion of the review of the NDA for bardoxolone is February 25, 2022.

About Reata

Reata is a clinical-stage biopharmaceutical company that develops novel therapeutics for patients with serious or life-threatening diseases by targeting molecular pathways involved in the regulation of cellular metabolism and inflammation. Reata’s two most advanced clinical candidates, bardoxolone and omaveloxolone, target the important transcription factor Nrf2 that promotes the resolution of inflammation by restoring mitochondrial function, reducing oxidative stress, and inhibiting pro-inflammatory signaling. Bardoxolone and omaveloxolone are investigational drugs, and their safety and efficacy have not been established by any agency.

Forward-Looking Statements

This press release includes certain disclosures that contain “forward-looking statements,” including, without limitation, statements regarding the success, cost, and timing of our product development activities and clinical trials, our plans to research, develop, and commercialize our product candidates, our plans to submit regulatory filings, and our ability to obtain and retain regulatory approval of our product candidates. You can identify forward-looking statements because they contain words such as “believes,” “will,” “may,” “aims,” “plans,” “model,” and “expects.” Forward-looking statements are based on Reata’s current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, (i) the timing, costs, conduct, and outcome of our clinical trials and future preclinical studies and clinical trials, including the timing of the initiation and availability of data from such trials; (ii) the timing and likelihood of regulatory filings and approvals for our product candidates; (iii) whether regulatory authorities determine that additional trials or data are necessary in order to obtain approval; (iv) the potential market size and the size of the patient populations for our product candidates, if approved for commercial use, and the market opportunities for our product candidates; and (v) other factors set forth in Reata’s filings with the U.S. Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, under the caption “Risk Factors.” The forward-looking statements speak only as of the date made and, other than as required by law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211208005569/en/

Reata Pharmaceuticals, Inc.

(972) 865-2219

https://www.reatapharma.com/

Investor Relations & Media Relations:

Andres Lorente ir@reatapharma.com

Wendy Segal media@reatapharma.com

https://www.reatapharma.com/contact-us/

Source: Reata Pharmaceuticals, Inc.

FAQ

What recent event affected Reata Pharmaceuticals' stock (RETA)?

Nasdaq halted trading of Reata Pharmaceuticals' stock following the FDA's review of its NDA for bardoxolone methyl.

When is the FDA Advisory Committee meeting for bardoxolone methyl?

The FDA Advisory Committee meeting is scheduled for December 8, 2021.

What is the Prescription Drug User Fee Act date for bardoxolone methyl?

The Prescription Drug User Fee Act date for bardoxolone's NDA review is February 25, 2022.