Rocket Pharmaceuticals, Inc. (RCKT) shares fell 13.22 percent, down $0.62 to $4.07 on Friday, even after the company announced that the U.S. Food and Drug Administration granted accelerated approval for KRESLADI, an autologous hematopoietic stem cell-based gene therapy for pediatric patients with severe leukocyte adhesion deficiency-I.
The stock is currently trading at $4.07, below its previous close of $4.69, after opening at $4.695 on the Nasdaq. Shares traded between $3.82 and $4.71 during the session, with volume reaching 10.36 million shares, well above the average daily volume of 2.60 million.
The approval also qualifies Rocket Pharmaceuticals for a Rare Pediatric Disease Priority Review Voucher, which the company said it may monetize to improve financial flexibility. KRESLADI was approved under the accelerated pathway based on increased neutrophil CD18 and CD11a surface expression, while long-term clinical benefit will be confirmed through ongoing follow-up studies and a post-marketing registry.
Rocket Pharmaceuticals' 52-week range is $2.19 to $8.80.
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