Gilead Sciences Inc. said late Friday that its CAR-T cell therapy had received approval from the Food and Drug Administration as a treatment for adult patients with relapsed or refractory mantle cell lymphoma. Shares of Gilead were up 0.6% in trading on Monday. The list price for Tecartus is $373,000 for a one-time infusion, according to a Gilead spokesperson, who noted by email that 87% of patients who receive a single dose report a response to the therapy.
The “approval should also help quell at least in part any concerns that part two of the first wave of COVID-19 cases or the vaccine development race is distracting the FDA from approving important cancer medications,” Mizuho Securities analyst Salim Syed wrote in a note to investors on Friday. Gilead’s stock has gained 14.1% so far this year, while the S&P 500 SPX, -0.64% has declined 0.4%.