One day after a 40% share price decline, biotech company Replimune saw a 7% drop, with analyst recommendation downgrade as a major reason. Anupam Rama from J.P. Morgan changed recommendation to sell due to FDA’s unwillingness to approve melanoma treatment RP1. Another analyst, Raghuram Selvaraju, reiterated a neutral recommendation.

Rama’s decision was based on RP1’s uncertain future despite positive clinical testing results. It is unlikely that FDA will grant accelerated approval for the medication. The outcome of the company’s meeting with FDA officials seemed inconclusive, leading to uncertainty about RP1’s future.

Considerations for investing in Replimune Group should also take into account that it was not included in the Motley Fool Stock Advisor’s 10 best stocks for investors to buy now. The top 10 stocks identified by the analyst team have historically produced significant returns, outperforming the S&P 500.

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Read more at Yahoo Finance: Why Replimune Stock Was Tumbling Again Today