Most people are aware that peanuts can cause a severe, potentially life-threatening allergic reactions, which can be unpredictable, and even minuscule amounts of peanut can cause a disaster.

While casual skin contact is less likely to trigger a severe reaction, even casual contact can become a problem if the affected area then touches the eyes, nose or mouth. Thus, peanuts and peanut products are often banned at schools.

Well, now there may be a remedy for the blacklisted legume.

Aimmune Therapeutics Inc.’s tortuous path to get its first allergy treatment approved by U.S. regulators faces its next chapter when a panel of advisers to the Food and Drug Administration meets in a couple of days.

The advisory committee’s discussion and recommendation on Sept. 13 may guide investors looking for details about the potential commercial success of a product designed to protect patients with peanut allergies.

Bullish analysts anticipate that the panel will support the drug, AR101, and its revolutionary potential. They are looking for such an endorsement to lift shares, which have fallen off over 30% of their value since a November high. At recent levels, some Wall Street price targets project Aimmune could double or triple in price over the next 12 months. Market reactions today suggest this change could already be underway.

Aimmune Therapeutics Inc stock has blasted higher, up nearly 12% Wednesday. The company’s shares are rocketing after the indirect push forward from the FDA.

While the path looks rosy for the stock, the biggest problem highlighted by the FDA had to do with the drug’s overall safety-to-benefit ratio. Steady dosing with Palforzia reduced adverse events self-reported by patients in response to accidental food allergen exposure from 11.5% to 9% during the maintenance treatment period.

According to studies, the minimal observed reduction in real-world attacks isn’t inconsequential, but the FDA has been disconcerted by a small percentage of Palforzia recipients resorting to epinephrine use to stop a reaction most likely caused by the treatment itself.

Nevertheless, for investors willing to take on some risk, AIMT could be a good bet, according to Jim Cramer..

“This is speculative, but it’s a good story,” said Cramer.

Investors looking for ETFs that offer more plays in the pharma sector can look into the Invesco Dynamic Pharmaceuticals ETF (NYSEArca: PJP) or the iShares U.S. Pharmaceuticals ETF (NYSEArca: IHE).

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