Shares of Cerecor Inc. gained 17.3% in premarket trading on Tuesday after the company said its experimental COVID-19 drug had received a Fast Track designation from the Food and Drug Administration. The treatment candidate is a monoclonal antibody being targeted at people with COVID-19 who are sick enough to be hospitalized. Cerecor’s stock is down 3.8% for the year, while the S&P 500 is up 11.5%.

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