Everyone’s itching for good news in gene therapy
There’s a theory out there that the slumping performance of gene therapy stocks is to blame for the broader biotech industry’s rough autumn. And thus the news that the federal government might finally approve Roche’s acquisition of Spark Therapeutics — a long-promised deal whose delay has weighed on the sector — was warmly received.
The thing is, it’s unclear who actually read that news. Yesterday’s report that FTC staff had endorsed Roche’s merger comes from the Capitol Forum, a subscription service that covers Washington. The headline made its way to terminals on Wall Street and then to Twitter, and within minutes gene therapy stocks spiked.
The Capitol Forum report could well be accurate, and the Roche-Spark issue might be on the verge of resolution. But also these sorts of things — impending decisions from the FTC or FDA — don’t usually leak beforehand, and no other outlet has corroborated the idea. All of which is to say this might end up being an illustration of just how desperate investors are for good news in gene therapy.
The thing is, it’s unclear who actually read that news. Yesterday’s report that FTC staff had endorsed Roche’s merger comes from the Capitol Forum, a subscription service that covers Washington. The headline made its way to terminals on Wall Street and then to Twitter, and within minutes gene therapy stocks spiked.
The Capitol Forum report could well be accurate, and the Roche-Spark issue might be on the verge of resolution. But also these sorts of things — impending decisions from the FTC or FDA — don’t usually leak beforehand, and no other outlet has corroborated the idea. All of which is to say this might end up being an illustration of just how desperate investors are for good news in gene therapy.
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