This morning Kite Pharma confirmed that a patient had died in a trial of its cell therapy for a form of blood cancer. Market rumors about the death had pushed the company’s stock down 16% on Friday.
The stock has recovered most of its losses, and rightly so, because the news of a single death in a study of cancer patients who had been failed by everything medicine had to offer is actually, well, not news. And Kite offered new details on the trial that mean that it is proceeding quickly on the clinical trial that could allow its treatment to reach the market by 2017. Maybe the stock should be up.
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