FDA accepts Priovant’s brepocitinib application for dermatomyositis

DURHAM, N.C. - The U.S. Food and Drug Administration has accepted Priovant Therapeutics’ New Drug Application for brepocitinib to treat dermatomyositis and granted Priority Review, according to a press release statement issued today. Shares of parent company Roivant Sciences (NASDAQ:ROIV) are trading near their 52-week high of $29.20, reflecting investor optimism about the company’s pipeline progress. The stock has surged 176% over the past year, reaching a market capitalization of $20.1 billion.