Cabaletta Bio Down as FDA Looks Into Issues With Several Companies' Approved CAR T Drugs
By Josh Beckerman
Cabaletta Bio shares were down 32% to $12.72 after the U.S. Food and Drug Administration said it is looking into reports of T-cell malignancies in patients who received treatment with BCMA- or CD19-directed autologous CAR T cell immunotherapies.
Cantor Fitzgerald analyst Josh Schimmer also mentioned Gracell Biotechnologies and Autolus Therapeutics as stocks that were "obviously" down in connection with the FDA's announcement. Gracell was recently down 17% to $4.46 while Autolus declined 11% to $4.50. Schimmer said the FDA investigation is "Likely a Storm in A Tea Cup."
The FDA lists several approved products in the category, such as Yescarta from Gilead Sciences. It said "the overall benefits of these products continue to outweigh their potential risks for their approved uses."
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
November 28, 2023 14:44 ET (19:44 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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