What's Going On With Cancer-Focused Replimune Stock Today?
Portfolio Pulse from Vandana Singh
Replimune Group Inc (NASDAQ:REPL) reported that its CERPASS trial of RP1 with cemiplimab for cutaneous squamous cell carcinoma did not meet primary endpoints. While RP1 increased the complete response rate, it fell short of statistical significance. The company also presented initial data from the IGNYTE Cohort for anti-PD1 failed melanoma, showing consistent activity. A BLA submission is planned for 2H 2024, and a Type C meeting with the FDA has been conducted. Replimune's cash reserves are expected to last until early 2026. REPL shares dropped 45.20% in premarket trading.
December 05, 2023 | 1:49 pm
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NEGATIVE IMPACT
Replimune's CERPASS trial results were disappointing, missing primary endpoints, which led to a significant premarket stock price drop of 45.20%. However, the company has a cash runway into early 2026 and plans for a BLA submission in 2H 2024.
The negative trial results are a significant setback for Replimune, directly impacting investor confidence and the stock price. The drop in premarket trading indicates a strong negative short-term impact. However, the company's financial position and future plans may provide some stability.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100