Rocket Stock Down More Than 30% in Past Six Months: Here's Why

Shares of Rocket Pharmaceuticals (RCKT) have plunged 32.9% in the past six months compared with the industry's decline of 3.4%. The company is developing its gene therapy candidate, Kresladi (marnetegragene autotemcel) to treat patients with severe leukocyte adhesion deficiency-I (LAD-I), a rare genetic disorder. In June 2024, the FDA issued a complete response letter (CRL) to Rocket's biologics license application (BLA) seeking approval for Kresladi to treat LAD-I. Per the CRL, the FDA sought "limited" add ...