Replimune shares surge after FDA panel supports RP1 data
Shares of drug developer Replimune (REPL.O) jumped 127% to $12.32.
Shares touched a 52-week high of $12.50 earlier in the session and were on track for their best day on record, if gains hold.
A US FDA panel of outside advisers on Thursday voted to back results from a trial studying REPL's drug for a type of skin cancer.
REPL seeks accelerated approval for RP1 in combination with Bristol Myers Squibb's (BMY.N) Opdivo for advanced melanoma in patients whose tumors grew despite prior treatment; a decision is expected by August 2.
"Given the media attention surrounding this decision, we think it's a near certainty that the FDA follows the panel's advice" - Cantor Fitzgerald.
The brokerage assumes unadjusted peak U.S. sales of $708 million by 2040 for RP1.
Shares have surged more than 700% from a 52-week low of $1.50 in April 2026.
More than 10.2 million shares traded, about 2.3 times the stock's 30-day average volume.
Including the session's move, the stock is up 27% year to date.
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