The stock retreated to $88.99 in midday trading Wednesday, deepening its 11% decline for the year. Although management confirmed the drug is cleared for patients with locally advanced or metastatic breast cancer who have failed at least one line of endocrine therapy, the timeline for market entry shifted. The company now anticipates a third-quarter launch, a departure from earlier signals that suggested the firm was prepared for an earlier rollout.
In section Market Quotes
Celcuity Stock Drops as Revtorpyk Launch Delay Rattles Investors
A 20% slide in Celcuity shares followed the FDA approval of the company’s new breast-cancer drug, Revtorpyk. While the treatment cleared regulatory hurdles for HR+/HER2- patients, investors reacted sharply to a pushed-back commercial rollout and unexpected data regarding the drug's safety profile.
Stifel analysts expressed concern over this discrepancy, noting that previous guidance during the first-quarter earnings call implied the company was already launch-ready. Beyond the timeline, the FDA-approved label revealed a higher rate of side effects than stakeholders had anticipated. Despite these headwinds, analysts maintain a positive outlook on the product's commercial potential, citing strong sales force preparation and expectations for premium pricing alongside broad insurance coverage.
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