Replimune Faces Major Setback After FDA Rejects Cancer Therapy Again
Replimune's stock plummeted 64% after the FDA rejected its lead cancer therapy, RP1, for the second time, raising doubts about its future approval and financial stability. The company has no approved products or revenue, making its valuation heavily dependent on RP1's success. Management has initiated cost-cutting measures, including scaling back manufacturing operations.
Topics: biotech drug approval FDA Replimune RP1 stock price