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SPAR Group, Inc. latest news:
BRIEF-Spar Group Acquires 51% Interest In Resource Plus
* SPAR GROUP ACQUIRES RESOURCE PLUS, EXPANDS U.S.
MERCHANDISING SERVICES BUSINESSES
Spark Therapeutics shares rise on FDA approval of new gene therapy for blindness
Spark Therapeutics Inc. shares rose 3% in heavy morning trade Tuesday after the company's gene therapy Luxturna was approved by the Food and Drug Administration for a rare type of inherited vision loss. Just one administration of the therapy could treat the disease, making it a major scientific breakthrough. The approval had been widely expected after an FDA committee recommended it in October, and was heralded by FDA Commissioner Scott Gottlieb as "another first in the field of gene therapy." The next, major question for the therapy is price, with some analysts projecting the cost could come close to $1 million. Gene therapies, the first of which was approved this past summer, are expected to challenge existing U.S. payment structures with their price tags, which are extremely high and cover a one-time treatment. Luxturna was approved for individuals with confirmed biallelic RPE65 mutation-associated retinal dystrophy, which is part of a group of eye disorders caused by gene mutations, can cause complete blindness in some cases and affects about 1,000 to 2,000 people in the U.S. Spark shares have plummeted 41.5% over the last three months, compared with a 7.2% rise in the S&P 500 and a 10.8% rise in the Dow Jones Industrial Average .Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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