Here's Why Cellectis SA Fell as Much as 31.6% Today
Shares of biopharma Cellectis (NASDAQ: CLLS) fell nearly 32% today after the company announced that the U.S. Food and Drug Administration had placed a clinical hold on its second leading product candidate, UCART123. The regulatory hold affects two ongoing phase 1 trials aimed at treating acute myeloid leukemia (AML) and blastic plasmacytoid dendritic cell neoplasm (BPDCN).
Today's news comes just days after Gilead Sciences reinvigorated the immunotherapy space by acquiring Kite Pharma in a blockbuster deal; for investors, it brings back unpleasant memories of Juno Therapeutics' clinical hold in summer 2016. The company is also developing chimeric antigen receptor T cell (CAR-T) immunotherapies for oncology indications.
As of 1:27 p.m. EDT, the stock had settled to a 20.1% loss.
Source: Fool.com