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BUZZ-Capricor falls after FDA to hold advisory meeting for cell therapy

Reuters
May 05
BUZZ-Capricor falls after FDA to hold advisory meeting for cell therapy

** Shares of drug developer Capricor Therapeutics CAPR.O fall 14.12% to $10.19

** CAPR says FDA has confirmed its intent to hold an advisory committee meeting to discuss co's experimental cell therapy

** Says an official date has not yet been set

** Co is seeking approval for its therapy, deramiocel, as a treatment for patients diagnosed with Duchenne muscular dystrophy (DMD) cardiomyopathy

** DMD cardiomyopathy is a heart muscle complication that can develop in individuals with the genetic condition that causes progressive muscle weakness

** "We believe deramiocel remains on track to be approved with the requested label, and believe today's share weakness is unwarranted" - H.C. Wainwright analyst Joseph Pantginis

** FDA set to make decision by August 31

** Up to last close, stock down ~24% YTD

(Reporting by Sriparna Roy and Siddhi Mahatole in Bengaluru)

((Sriparna.Roy@thomsonreuters.com;))

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