Rocket Pharmaceuticals Shares Slide After FDA Rejects Kresladi

By Colin Kellaher

Rocket Pharmaceuticals shares fell after the Food and Drug Administration declined to approve the company's proposed treatment for the rare pediatric immunodeficiency disorder leukocyte adhesion deficiency-I.

Shares of the Cranbury, N.J., biotechnology company were recently changing hands at $19.99, down 6.7%.

Rocket on Friday said the FDA requested limited additional information related to chemistry, manufacturing and controls to complete its review of marnetegragene autotemcel, which the company plans to market as Kresladi.

In a research note, analysts at William Blair said they believe Rocket will quickly resolve the request and resubmit its application for Kresladi in a timely manner, and that they are confident of an FDA approval for the gene therapy.

Write to Colin Kellaher at [e-mail]

(END) Dow Jones Newswires

06-28-24 1025ET