The FDA cleared Inovio’s Voceryq. It is a win for CEO Jacqueline Shea.

The U.S. Food and Drug Administration on Friday, Oct. 30, granted accelerated approval to Voceryq, a treatment from Inovio Pharmaceuticals for adults with recurrent respiratory papillomatosis. The approval is a milestone for Inovio and its chief executive, Dr. Jacqueline Shea.

It is the first U.S. approval for a plasmid DNA-based immunotherapy, the FDA said. Inovio calls Voceryq the first FDA-approved DNA medicine.

The disease. RRP is a rare, chronic disease caused by HPV types 6 and 11. It causes small, wart-like growths in the airways, most often around the voice box, according to the FDA. Surgery can remove the growths, but there is no cure, and patients often need repeated procedures for years, the agency said.

How it works. Voceryq delivers two small pieces of DNA into the body’s cells. One carries instructions for HPV proteins; the other carries an immune-boosting molecule called IL-12. It is injected into muscle with a device that uses brief electrical pulses to help the DNA enter cells, the FDA said.

The data. The trial enrolled 32 adults. Seven of 26 patients, or 27%, who had at least three surgeries before treatment needed no surgery during the first year afterward, according to the FDA. The most common side effects were injection site reactions, headache, fatigue, high blood pressure, nausea and dizziness.

To be sure. Accelerated approval rests on an early measure, here fewer surgeries, that is “reasonably likely” to predict benefit. Inovio must run further trials to confirm it, the FDA said.

The market. Inovio shares jumped 257% in after-hours trading on Oct. 30, Reuters reported.

Also on the Oct. 31 desk. Lakers owner Mark Walter and Josh Kushner agreed on all terms of a $12.5 billion sale of the team, sources told ESPN. The deal is not yet signed, and the NBA must approve it. Czech billionaire Michal Strnad offered €30 billion for Delfin, the Del Vecchio family holding company, two people told Reuters; heir Leonardo Maria Del Vecchio confirmed an offer from a foreign investor but not the amount. And Ken Griffin’s 350 Park Avenue tower closed a $3.3 billion construction loan, Vornado Realty Trust said on Oct. 21.

This is news, not medical or financial advice. Deal reports cite people familiar with the talks and may change.