Replimune Therapeutics Inc.’s stock price has plummeted by 75% after the US Food and Drug Administration (FDA) rejected its application for a treatment to prevent skin cancer. The company had submitted a biologics license application (BLA) for its product, RMT-305, aiming to treat patients with squamous cell carcinoma of the skin.
The FDA’s decision leaves Replimune stock trading significantly lower than pre-application levels, raising concerns about investors and potentially impacting future funding prospects.
Source: https://www.barrons.com/articles/replimune-repl-stock-price-news-739b7fe8