Clementia jumps on NDA plans for unmet rare bone disease

Clementia Pharmaceuticals Inc. (NASDAQ:CMTA) climbed $4.16 (40%) to $14.50 on Wednesday after announcing regulatory plans for palovarotene that could put the therapy first in line to gain FDA approval for fibrodysplasia ossificans progressiva (FOP). Clementia announced the news after market close Tuesday.

FOP is a rare, monogenic disease characterized by injury-induced or spontaneous heterotopic ossifications, or bone formation, outside of the normal skeleton in muscles, tendons or soft tissue...