Why Replimune Stock Was Soaring Today
Biotech stocks can be volatile, a tendency that was very much in Replimune Group's (NASDAQ: REPL) favor on Monday. The biotech's stock had more than doubled in late-session action, thanks to some very positive news on the regulatory front. Its rise was easily eclipsing the S&P 500 index, which at that point was up by 1.1%.
Well before market open, Replimune announced that the U.S. Food and Drug Administration (FDA) accepted the resubmission of a crucial Biologics License Application (BLA). This was made for its RP1, an investigational drug that in combination with Bristol Myers Squibb's Opdivo targets advanced melanoma in certain patients.
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Source Fool.com
