By Stephen Nakrosis

Shares of SQZ Biotechnologies Co. were trading higher in on the New York Stock Exchange Thursday, following news the Food and Drug Administration gave fast-track designation for the company's lead cell therapy candidate, SQZ-PBMC-HPV.

The company said SQZ-PBMC-HPV is being evaluated to treat HPV16+ advanced or metastatic solid tumors.

At 11:35 a.m. ET, the company's stock was trading 35.95% higher, at $3.76 per share. Volume at the time topped 12.1 million shares, above the stock's 65-day average volume of 96,814 shares.

On Wednesday, the stock touched a 52-week low of $2.73 per share.

The FDA said fast track is a process "designed to facilitate the development, and expedite the review of drugs to treat serious conditions and fill an unmet medical need."

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

April 28, 2022 11:55 ET (15:55 GMT)

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