ARTICLE | Financial News

CAR T plays rebound after Thursday slide

January 17, 2015 4:39 AM UTC

Kite Pharma Inc. (NASDAQ:KITE) and other developers of chimeric antigen receptor (CAR) T cell therapies recovered some of their losses Friday after dipping sharply Thursday on a report suggesting Kite may price its treatments below Street expectations.

Kite added $10.24 (14%) to $82.66 on Friday. The stock shed $15.20 (17%) on Thursday when a Reuters story cited Kite CFO Cynthia Butitta as saying the company's financial models set a base case price of $150,000 per treatment, although actual prices would depend on survival rates and measures of the drug's efficacy. The story also said analysts have estimated the costs at up to $300,000 per treatment. Kite declined to comment further to BioCentury. ...