** Shares of drug developer Capricor Therapeutics CAPR.O fall 40.7% to $7.08
** STAT News reports that FDA's chief regulator of cell and gene therapies, Nicole Verdun, was ousted over disagreements on the review of a cell therapy for Duchenne muscular dystrophy developed by Capricor
** Co is seeking approval for its therapy, deramiocel, as a treatment for patients diagnosed with DMD cardiomyopathy — a heart muscle complication that can develop in individuals with the genetic condition that causes progressive muscle weakness
** Verdun had scheduled an advisory committee meeting to review the therapy, "but Vinay Prasad, director of the FDA’s Center for Biologics Evaluation and Research, was skeptical of the treatment and decided unilaterally to cancel the meeting," STAT reports, citing a person familiar with the matter
** FDA is set to make its decision for the therapy by August 31
** Including session moves stock down 45.1% YTD
(Reporting by Sneha S K )
((Sneha.SK@thomsonreuters.com))
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