Plunge in Replimune Shares by Nearly 40% Today Explained
In a critical meeting on Tuesday, Replimune Group discussed its cancer drug, RP1, with U.S. Food and Drug Administration (FDA) officials. The drug, being trialed in combination with Bristol Myers Squibb's Opdivo, aims to treat advanced melanoma.
However, the outcome of the meeting left the future of the drug up in the air, causing investors to trade out of the clinical-stage biotech's stock. Replimune is now evaluating the feedback from the FDA to determine next steps.
It's important to note that Replimune Group's stock ticker is NASDAQ: REPL, and on Thursday, the company experienced a loss of $2.25.
The Motley Fool, a financial services company that provides financial advice and investment recommendations, did not include Replimune Group in their list of the 10 best stocks for investors to buy. The Motley Fool's Stock Advisor team, consisting of analysts who provide investment recommendations based on their research and analysis, updates this list periodically.
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Since the meeting with the FDA, Replimune Group has decided to advance clinical trials, optimize dosing regimens, and prepare for potential regulatory submissions. However, at this time, a path forward under the accelerated approval pathway has not been determined.
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The Motley Fool's Stock Advisor team did not include Replimune Group in their list of the 10 best stocks for investors to buy, but it's worth noting that past performance is not a guarantee of future results. Replimune Group's stock price today is $3.46, with a change of -39.41%.
As always, it's essential for investors to conduct their own due diligence and consider their risk tolerance before making investment decisions.
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