Market Overview

These Biotechs Are Getting Crushed Following Juno's Cancer Drug Hold

Share:
These Biotechs Are Getting Crushed Following Juno's Cancer Drug Hold

Juno Therapeutics Inc (NASDAQ: JUNO) announced late Thursday it has received notice from the U.S. Food and Drug Administration that it has placed a clinical hold on its Phase II clinical trial of JCAR015 in patients with relapsed or refractory B cell acute lymphoblastic leukemia.

The trial, also known as the "ROCKET" trial, was put on hold by the FDA after two patient deaths were reported last week.

Shares of Juno sank more than 30 percent Friday morning.

Related Link: Juno Therapeutics Price Target Cut From $63 To $39 At JPMorgan

Juno noted the FDA requested that it submit a revised patient informed consent form, a revised investigator brochure, a revised trial protocol, and a copy of the presentation made to the agency. The company plans to submit the requested information this week.

Biotech Sector Under Heavy Selling Pressure

Juno's announcement sent a shock wave across the biotechnology sector.

Kite Pharma Inc (NASDAQ: KITE), a clinical-stage biopharmaceutical company that focuses on the development and commercialization of cancer immunotherapy products to eradicate cancer cells, saw its shares trade lower by nearly 10 percent.

Cellectis SA (ADR) (NASDAQ: CLLS), a France-based company that specializes in the research, development and commercialization of rational genome engineering technologies, saw its shares trading lower by nearly 7 percent.

Shares of bluebird bio Inc (NASDAQ: BLUE) were lower by around 1 percent as the negative sentiment in the space extended to the company that develops transformative gene therapies for severe genetic and rare diseases.

Posted-In: biotechnology biotechnology stocksBiotech News Health Care FDA Movers General Best of Benzinga

 

Related Articles (BLUE + CLLS)

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com