Replimune Group has received FDA approval for its melanoma drug Tudriqev, in combination with Bristol Myers Squibb's Opdivo, after two previous application denials. Despite this milestone, Replimune's stock is declining.

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Replimune Wins FDA Skin Cancer Drug Approval on Third Try. Why the Stock Is Tumbling.

By Mackenzie Tatananni

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Replimune Group’s melanoma drug, Tudriqev, has been approved in combination with Bristol Myers Squibb’s Opdivo. (Valerie Plesch/Bloomberg)

Replimune Group received Food and Drug Administration clearance for its skin cancer drug, concluding a saga that saw regulators twice deny its application. The stock was falling anyway.

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Replimune Wins FDA Skin Cancer Drug Approval on Third Try. Why the Stock Is Down.

Replimune Wins FDA Skin Cancer Drug Approval on Third Try. Why the Stock Is Tumbling.