Reata’s stock nearly triples after FDA approves rare-disease drug amid uncertainty about approach to neuroscience treatments

The U.S. Food and Drug Administration on Tuesday approved Reata Pharmaceuticals Inc.’s treatment for Friedreich’s ataxia, a rare inherited disease that causes damage to the nervous system.

Reata’s RETA stock jumped more than 180% in after-hours trading, after being halted in advance of the FDA’s decision.

The drug, omaveloxolone, is now…