The European Commission has approved €1.4 billion ($1.5 billion) for hydrogen projects, investing in 13 initiatives under the fourth Important Project of Common European Interest (IPCEI), to advance hydrogen technology in mobility and transport applications.

The drug is the first treatment approved in the European Union (EU) to target a genetic cause of ALS, the company said. The approval is based on a 108-patient trial that showed Qalsody reduced levels of a neurofilament protein that scientists believe is tied with the disease's progression.

According to industry sources, the European Commission (EC) has demanded assurances that ITA will never join the A++ transatlantic joint venture (JV) between Lufthansa, United Airlines and Air Canada as one of the preconditions for possible regulatory approval.

The approval is based on the totality of evidence, including clinical findings from the Phase III VALOR study.