It is interesting. The class of drug has had a big success in treating Multiple Sclerosis. See
https://en.wikipedia.org/wiki/sphingosine-1-phosphate_receptor_modulator.
I am not fully clear if this is a biologic. It seems small molecule, and seems synthesized, rather than grown in a living organism. Possibly just one more immuno-modulator drug.
The only similar drug on the market targets not only SP1 but also SP2 thru SP5. I see on the Wikipedia page that for MS, an SP1 only version failed Phase III trials.
The phase-II results summarized in the article do seem efficacious with low side effects.