Wall Street Journal: FDA's Rejection of Replimune's RP1 Therapy is Unreasonable
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 22 2026
0mins
Should l Buy REPL?
In an opinion article, The Wall Street Journal's The Editorial Board argued that the Food and Drug Administration's rejection of Replimune's RP1 melanoma therapy contradicts both expert opinion and the agency's own initial review panel, which had recommended approval. According to the piece, FDA leadership replaced that panel with reviewers who still did not conclude the drug was ineffective, yet the agency denied approval based on what the article describes as flawed reasoning about trial design. Multiple melanoma specialists quoted in the article say RP1 has produced remissions in patients who had exhausted all other options, and they view the rejection as medically unsound and harmful to patients. Shares of Replimune have gained over 21%, trading at $2.26.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy REPL?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on REPL
Wall Street analysts forecast REPL stock price to rise
7 Analyst Rating
4 Buy
3 Hold
0 Sell
Moderate Buy
Current: 3.340
Low
3.00
Averages
11.43
High
18.00
Current: 3.340
Low
3.00
Averages
11.43
High
18.00
About REPL
Replimune Group, Inc. is a clinical-stage biotechnology company engaged in the development of novel oncolytic immunotherapies. Its proprietary RPx platform is based on a potent HSV-1 backbone intended to maximize immunogenic cell death and the induction of a systemic anti-tumor immune response. The RPx platform is designed to have a unique dual local and systemic activity consisting of direct selective virus-mediated killing of the tumor resulting in the release of tumor-derived antigens and altering of the tumor microenvironment to ignite a systemic response. Its lead product candidate, RP1, is a selectively replicating version of HSV-1 that expresses GALV-GP R(-) and human GM-CSF. Its lead indication for its lead product candidate, RP1, is the potential treatment of advanced melanoma. Its pipeline product candidates include RP2 and RP3. It has designed its RP2 product candidate to express an anti-CTLA-4 antibody-like protein intended to block the inhibition of the immune response.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
FDA Leadership Shakeup May Impact Biotech Stocks
- Stock Price Surge: Following reports of potential dismissal of FDA Commissioner Marty Makary, shares of Replimune (REPL) and uniQure (QURE) surged by 17% and 15% respectively, indicating market optimism regarding regulatory improvements under new leadership.
- Industry Response: The pharmaceutical industry has expressed dissatisfaction with Makary's drug review policies, citing inconsistencies and overly restrictive processes that hinder innovative drug approvals, suggesting that new leadership could accelerate approval timelines and restore clearer regulatory guidance.
- Potential Beneficiaries: Companies like Replimune and uniQure, which have publicly clashed with the FDA, are seen as potential beneficiaries of new leadership, with Replimune's melanoma therapy RP1 being rejected and uniQure's Huntington's disease gene therapy AMT-130 facing significant shifts in review policy.
- Market Reaction: Despite REPL's stock falling approximately 50% over the past year, QURE's stock has risen by 124%, reflecting investor confidence in the future of the biotech sector and expectations for changes in FDA policies.
See More
REPLIMUNE GROUP STOCK SOARS 21% FOLLOWING REPORT OF TRUMP'S INTENT TO DISMISS FDA HEAD MARTY MAKARY
Stock Market Reaction: Replimune Group's shares surged by 21% following news of a potential leadership change.
Leadership Change Speculation: Reports indicate that former President Trump is considering firing FDA Chief Marty Makary.
See More
FDA's Rejection of Replimune Drug Application Sparks Controversy
- FDA Drug Rejection: The FDA denied Replimune's RP1 drug application in 2025, despite the company's claims that comments from a 2025 meeting were overlooked, leading to a ~14% drop in Replimune's stock on Tuesday, indicating market dissatisfaction with the FDA's decision.
- Regulatory Defense: FDA Commissioner Marty Makary defended the agency's scientists during a CNBC interview, asserting that when agency commissioners override scientific opinions, it often results in disastrous outcomes, highlighting his commitment to the scientific review process.
- Public Outcry: Makary referenced a ninth opinion piece in The Wall Street Journal criticizing the FDA's decision, illustrating the strong public demand for Replimune's approval and the tension between political pressure and public expectations in the drug approval process.
- Other Drug Application Denials: In February 2025, the FDA also rejected Regenxbio's gene therapy application and declined to review Moderna's flu vaccine application, demonstrating the agency's strictness and uncertainty in the drug approval process, which may impact confidence in future drug development.
See More
FDA Rejects Replimune's Drug Application RP1 Amid Controversy
- FDA Drug Rejection: The FDA has once again rejected Replimune's melanoma drug RP1, citing insufficient data to provide substantial evidence of effectiveness, leading to a 13% drop in Replimune's stock on Tuesday, reflecting market pessimism about the company's future prospects.
- Commissioner Defense: FDA Commissioner Marty Makary defended the agency in an interview, asserting that there were no 'corrupt sweetheart deals' with Replimune and noted that three independent teams reached the same conclusion, indicating that the drug's effectiveness remains unclear, showcasing the FDA's rigor in the drug approval process.
- Medical Community Outcry: Doctors criticized the FDA's decision in an opinion piece in The Wall Street Journal, highlighting that the initial panel had recommended approval for RP1, which was later overturned by the then-FDA biologics chief, reflecting inconsistencies in FDA decision-making that could impact patient treatment options.
- Replimune's Counterargument: Replimune expressed dissatisfaction with the FDA's decision, with CEO Sushil Patel stating that the drug's unavailability is not due to its failure but rather the inefficiency of the regulatory system, emphasizing the company's challenging position in the drug approval process.
See More
FDA Commissioner Defends Drug Rejections Amid Pressure
- Defense of Drug Rejections: FDA Commissioner Marty Makary defended recent drug rejections in a CNBC interview, emphasizing his commitment to serving the American public rather than specific companies, thereby reinforcing the FDA's independence and scientific integrity.
- High-Profile Drug Case: The FDA's rejection of a melanoma drug candidate from Replimune highlights the agency's stringent standards, as Makary noted that three independent teams reached the same conclusion regarding the drug's efficacy and safety.
- Internal Agency Pressure: A Bloomberg report described a climate of 'paranoia, turmoil, and backlash' within the FDA under Makary's leadership, indicating significant internal pressure that could impact future drug approval decisions.
- Historical Lessons: Makary referenced past instances where FDA commissioners overruling scientists led to disastrous outcomes, citing the approval of Aduhelm and a Covid-19 vaccine for young children, thus underscoring the critical importance of scientific evaluation in drug approvals.
See More
FDA Commissioner Makary Defends Drug Rejections Amid Controversy
- Drug Rejection Controversy: FDA Commissioner Makary defended the agency's rejection of Replimune's melanoma drug candidate during a CNBC interview, asserting that three independent teams reached the same conclusion, indicating that the FDA's scientific review process remains free from corrupt influences.
- Intensifying Media Pressure: As The Wall Street Journal published multiple opinion pieces criticizing Makary's performance in the Trump administration, the FDA faces mounting public scrutiny, reflecting a climate of 'paranoia, turmoil, and backlash' within the agency.
- Importance of Scientific Review: Makary emphasized that overruling FDA scientists has led to disastrous outcomes, citing the approval of the Alzheimer's drug Aduhelm and the clearance of a Covid-19 vaccine booster for young children, underscoring the necessity of adhering to scientific evaluations.
- Challenge to Public Trust: Amidst the pressures facing the FDA, Makary reiterated his support for scientists, stating his commitment to serving the public interest rather than specific companies, aiming to restore public confidence in the FDA.
See More
FDA Leadership Shakeup May Impact Biotech Stocks
- Stock Price Surge: Following reports of potential dismissal of FDA Commissioner Marty Makary, shares of Replimune (REPL) and uniQure (QURE) surged by 17% and 15% respectively, indicating market optimism regarding regulatory improvements under new leadership.
- Industry Response: The pharmaceutical industry has expressed dissatisfaction with Makary's drug review policies, citing inconsistencies and overly restrictive processes that hinder innovative drug approvals, suggesting that new leadership could accelerate approval timelines and restore clearer regulatory guidance.
- Potential Beneficiaries: Companies like Replimune and uniQure, which have publicly clashed with the FDA, are seen as potential beneficiaries of new leadership, with Replimune's melanoma therapy RP1 being rejected and uniQure's Huntington's disease gene therapy AMT-130 facing significant shifts in review policy.
- Market Reaction: Despite REPL's stock falling approximately 50% over the past year, QURE's stock has risen by 124%, reflecting investor confidence in the future of the biotech sector and expectations for changes in FDA policies.
See More
REPLIMUNE GROUP STOCK SOARS 21% FOLLOWING REPORT OF TRUMP'S INTENT TO DISMISS FDA HEAD MARTY MAKARY
Stock Market Reaction: Replimune Group's shares surged by 21% following news of a potential leadership change.
Leadership Change Speculation: Reports indicate that former President Trump is considering firing FDA Chief Marty Makary.
See More
FDA's Rejection of Replimune Drug Application Sparks Controversy
- FDA Drug Rejection: The FDA denied Replimune's RP1 drug application in 2025, despite the company's claims that comments from a 2025 meeting were overlooked, leading to a ~14% drop in Replimune's stock on Tuesday, indicating market dissatisfaction with the FDA's decision.
- Regulatory Defense: FDA Commissioner Marty Makary defended the agency's scientists during a CNBC interview, asserting that when agency commissioners override scientific opinions, it often results in disastrous outcomes, highlighting his commitment to the scientific review process.
- Public Outcry: Makary referenced a ninth opinion piece in The Wall Street Journal criticizing the FDA's decision, illustrating the strong public demand for Replimune's approval and the tension between political pressure and public expectations in the drug approval process.
- Other Drug Application Denials: In February 2025, the FDA also rejected Regenxbio's gene therapy application and declined to review Moderna's flu vaccine application, demonstrating the agency's strictness and uncertainty in the drug approval process, which may impact confidence in future drug development.
See More
FDA Rejects Replimune's Drug Application RP1 Amid Controversy
- FDA Drug Rejection: The FDA has once again rejected Replimune's melanoma drug RP1, citing insufficient data to provide substantial evidence of effectiveness, leading to a 13% drop in Replimune's stock on Tuesday, reflecting market pessimism about the company's future prospects.
- Commissioner Defense: FDA Commissioner Marty Makary defended the agency in an interview, asserting that there were no 'corrupt sweetheart deals' with Replimune and noted that three independent teams reached the same conclusion, indicating that the drug's effectiveness remains unclear, showcasing the FDA's rigor in the drug approval process.
- Medical Community Outcry: Doctors criticized the FDA's decision in an opinion piece in The Wall Street Journal, highlighting that the initial panel had recommended approval for RP1, which was later overturned by the then-FDA biologics chief, reflecting inconsistencies in FDA decision-making that could impact patient treatment options.
- Replimune's Counterargument: Replimune expressed dissatisfaction with the FDA's decision, with CEO Sushil Patel stating that the drug's unavailability is not due to its failure but rather the inefficiency of the regulatory system, emphasizing the company's challenging position in the drug approval process.
See More
FDA Commissioner Defends Drug Rejections Amid Pressure
- Defense of Drug Rejections: FDA Commissioner Marty Makary defended recent drug rejections in a CNBC interview, emphasizing his commitment to serving the American public rather than specific companies, thereby reinforcing the FDA's independence and scientific integrity.
- High-Profile Drug Case: The FDA's rejection of a melanoma drug candidate from Replimune highlights the agency's stringent standards, as Makary noted that three independent teams reached the same conclusion regarding the drug's efficacy and safety.
- Internal Agency Pressure: A Bloomberg report described a climate of 'paranoia, turmoil, and backlash' within the FDA under Makary's leadership, indicating significant internal pressure that could impact future drug approval decisions.
- Historical Lessons: Makary referenced past instances where FDA commissioners overruling scientists led to disastrous outcomes, citing the approval of Aduhelm and a Covid-19 vaccine for young children, thus underscoring the critical importance of scientific evaluation in drug approvals.
See More
FDA Commissioner Makary Defends Drug Rejections Amid Controversy
- Drug Rejection Controversy: FDA Commissioner Makary defended the agency's rejection of Replimune's melanoma drug candidate during a CNBC interview, asserting that three independent teams reached the same conclusion, indicating that the FDA's scientific review process remains free from corrupt influences.
- Intensifying Media Pressure: As The Wall Street Journal published multiple opinion pieces criticizing Makary's performance in the Trump administration, the FDA faces mounting public scrutiny, reflecting a climate of 'paranoia, turmoil, and backlash' within the agency.
- Importance of Scientific Review: Makary emphasized that overruling FDA scientists has led to disastrous outcomes, citing the approval of the Alzheimer's drug Aduhelm and the clearance of a Covid-19 vaccine booster for young children, underscoring the necessity of adhering to scientific evaluations.
- Challenge to Public Trust: Amidst the pressures facing the FDA, Makary reiterated his support for scientists, stating his commitment to serving the public interest rather than specific companies, aiming to restore public confidence in the FDA.
See More
