2seventy bio slides as FDA may delay decision on cancer therapy

2Seventy Bio

20/11/2023 13:58

** Cell and gene therapy cancer specialist 2seventy bio's
shares  TSVT.O  down 11.7% at $1.9 premarket 
    ** U.S. FDA will not meet its Dec. 16 deadline on the use of
Bristol Myers Squibb Co  BMY.N  and partner TSVT's blood cancer
therapy in earlier lines of treatment, the companies reported
    ** FDA plans to seek the advice of independent experts
before making a decision, the companies said but added the
agency has not yet confirmed when the advisory panel would meet 
    ** BMY stock down 5.1% at $48.2 premarket 
    ** FDA approved the cell therapy Abecma in 2021, developed
along with TSVT to treat adult patients with multiple myeloma
after four or more prior lines of therapies did not show
improvement in patients
    ** Companies said they look forward to continuing
discussions with the FDA to reinforce the potential of Abecma
    ** Up to last close, 2seventy bio, BMY down 77.3% and 29.3%,
respectively, this year

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))