Promising Pathway Act, YES. It would allow for provisional approval of drugs that show high efficacy and favorable safety; as long as there is a plan by the sponsor to continue a Phase 3 + Application for approval over (I believe) the next 5 years. We can assume FX-322 has a favorable safety profile, as the Phase 2A has not been halted; and hopefully the efficacy from the Phase 1/2 is retained or improves.
HOWEVER: That is a bill currently sitting in a dysfunctional US legislature, particularly the Senate. So, it won't even move to the current President's desk until after Jan 20, 2021. Even then, this bill may not be a priority of the Biden administration for any time in 2021. Even if it were signed into law given all the other priorities, I don't expect its impact to hit the FDA and current trials until 2022. By then, FX-322 may already be in Phase 3, so it seems pointless to hang our hats on Promising Pathways.
Breakthrough Status in 2021 is by-far the best option to maximize the speed for FX-322 to hit the market.