Biodel Inc. said Monday the Food and Drug Administration will review the biotechnology company's diabetes drug candidate VIAject.
VIAject is a type of human insulin designed to be absorbed into the blood faster than currently marketed rapid-acting insulin.
The company expects the FDA to make a regulatory decision on Oct. 30.
Shares of Biodel jumped 26 cents, or 6.5 percent, to $4.25 in afternoon trading. The stock has traded between $3.22 and $6.02 over the last 52 weeks.