Here's Why Spark Therapeutics, Inc. Fell 9.3% in October
Shares of Spark Therapeutics, Inc. (NASDAQ: ONCE), a clinical-stage biotech advancing a once-and-done gene therapy approach to treating genetic disorders, have given back some of August's gains. Despite a triumphant result from a Food and Drug Administration advisory committee, the stock followed the industry-tracking iShares Nasdaq Biotechnology index lower, notching a 9.26% drop in October, according to data from S&P Global Market Intelligence.
The FDA wanted to get some outside opinions regarding Spark's most advanced gene therapy candidate. The independent panel of physicians voted 16 to 0 in favor of approving Luxturna to treat a rare sight-robbing disorder. While the FDA will take the vote into account when making its decision, an approval is far from guaranteed, and the likelihood of a successful launch is even harder to predict.
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Source: Fool.com
