Replimune Group, Inc. (NASDAQ: REPL) experienced a 39.40% drop in stock price on Thursday, closing at $3.46 per share due to regulatory challenges for its melanoma treatment candidate. The FDA’s response has left uncertainty about the drug’s approval for accelerated use.

CEO Sushil Patel remains optimistic about the potential of RP1 for advanced melanoma treatment, emphasizing the drug’s positive risk-benefit profile from the IGNYTE trial. The company is committed to collaborating with the FDA to find a swift resolution for RP1’s approval process.

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Read more at Yahoo Finance: Replimune Group (REPL) Nosedives 39% as FDA Approval for Melanoma Treatment ‘Uncertain’