BioMarin’s stock falls 27% after FDA asks for additional data about experimental hemophilia A drug

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Shares of BioMarin Pharmaceutical Inc. tumbled 27.6% in trading on Wednesday after the company said it had received a complete response letter from the Food and Drug Administration for its experimental hemophilia A treatment. The regulator told BioMarin to complete a Phase 3 study and then submit two years of follow-up data about the drug’s safety and efficacy, pushing back the decision until at least November 2021, which is when the last study participant will end the two-year follow-up period. BioMarin’s stock is up 40.2% year-to-date, while the S&P 500 has gained 4.9%.
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