FDA approves Adaptimmune's gene therapy for cancer, shares fall

Adaptimmune Therapeutics

02/08/2024 18:37

** Shares of gene therapy developer Adaptimmune Therapeutics
 ADAP.O  fall ~6.7% to $1.18
    ** Co says its gene therapy Tecelra got U.S. FDA approval
for the treatment of a rare type of cancer called synovial
sarcoma
    ** The approval comes with a safety-related 'boxed warning'
for an inflammatory response
    ** Co says the treatment carries a list price of $727,000
    ** Brokerage Guggenheim says the price represents a premium
over recent cell therapies but is justified given the "ultra
rare" indication 
    ** Stock up 48.8% YTD

    

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))