That’s a Gain of $604 Million, and That Ain’t Bad!
Six brokerage firms downgraded Replimune (REPL), around the same time we added it to the Watch List (April 22nd) at $2.17 – shortly after the FDA gave them a no for their cancer treatment, RP1 (April 10th).
Adding to 2026 Watch List @ $2.17
Now it’s up 360% since their downgrade in less than six weeks, a gain of $604 million from $177 million to a current market cap of $781 million. BMO capital issued a target of $1.00. Which would delineate as the downside, if things with the FDA break down again.
The shares of Replimune first surged on May 29th after they announced that it plans to resubmit its melanoma drug RP1 for FDA approval, after the treatment was rejected twice by the agency. The company said it reached an agreement with the FDA to file again, thereby giving RP1 another shot at approval after a controversial review process. We don’t like the resubmit game, and would trade out at this price, if we were traders, but we’re not.
