First Peanut Allergy Drug Wins Approval From U.S. Regulators (1)

U.S. health regulators approved the first drug for children and teenagers with peanut allergies, marking a potential paradigm shift in treatment.

The drug, which will be sold under the brand name Palforzia, will be marketed by Aimmune Therapeutics Inc.. The therapy involves ingesting small doses of peanut protein, gradually increased over time to help desensitize patients to higher levels. The medicine is similar to oral therapies offered by some allergists; however, it is the first to be cleared by the U.S. Food and Drug Administration.

Shares of Aimmune jumped 22% in extended trading Friday to $37.90 a share. The ...