Shares of Fortress Biotech Inc. soared 11% in premarket trade Monday, after the biopharmaceutical company after its treatment for Menkes disease was granted fast track designation by the Food and Drug Administration. The FDA's fast track program helps expedite development and potential approval of drugs to treat serious conditions and that address unmet needs. Menkes disease affects copper levels in the body, and is characterized by failure to gain weight and grow, and deterioration of the nervous system. The fast track designation was granted to Fortress subsidiary Cyprium Therapeutics' Copper Histidinate, or CUTX-101. Fortress' stock had tumbled 25% year to date through Friday, while the iShares Nasdaq Biotechnology ETF had gained 2.9% and the S&P 500 had edged up 1.7%.