On Friday, the FDA approved the first-ever alopecia treatment for teens.

Litfulo (Ritlecitinib) is a once-daily pill that treats alopecia areata, an autoimmune disease that causes the body to attack its own fair follicles, resulting in sometimes dramatic hair loss. While there are other treatments available for alopecia, Litfulo is the first that may be used by anyone 12 or older.

“While patients may start to develop symptoms of alopecia areata at any age, most people start showing signs in their teens, twenties, or thirties,” said Dr. Brittany Craiglow, an associate professor of dermatology at Yale University School of Medicine, in a press release.

According to Pfizer, the drug will cost $49,000 for a full-year supply. While the price is high, the company said it would vary based on the patient’s insurance coverage. Pfizer said it was “committed” to helping those in need get “access to treatments.”

“There will be copay savings for commercially insured patients and a patient assistance program for eligible patients to help achieve this. Through the Pfizer Dermatology Patient Access Program,” the company said in a press release.

Dr. Brett King, also an associate professor of dermatology at Yale School of Medicine and principal investigator of the clinical trial of ritlecitinib, called the drug a “huge advancement” in alopecia treatment and “transformative.”

“Over 24 weeks of treatment, about 30% of people participating in the trials regrew their hair. Remember, these are patients who, at the start, had 50% to 100% scalp hair loss. Often they had no scalp hair,” King told ABC News. “And 24 weeks later, 30% of them have less than 20% [scalp hair loss] or complete scalp hair regrowth, and up to 48 weeks, that number rises to 40% of people achieving dramatic regrowth of hair.”