Before the market opened on October 31, 2022, Instil Bio, Inc. disclosed that it had notified the U.S. Food and Drug Administration (“FDA”) and other regulatory agencies that it has voluntarily paused enrollment in one of its clinical trials. The voluntary pause instituted by Instil follows a recent decrease in the successful manufacturing rate of one of its therapies, resulting in an inability to dose some ITIL-168 clinical trial patients for advanced melanoma.
No regulatory agencies have notified Instil Bio of clinical holds in any of the company’s clinical trials.
Shares of Instil Bio, Inc. stock dropped more than 30% in both premarket and intraday trading on October 31, 2022.
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