Replimune (REPL) Shares Tank 45% After Company Says No Pathway Identified For Lead Drug RP1, Securities Class Action Pending - Hagens Berman

Core Viewpoint - Replimune Group, Inc. experienced a significant stock price decline of approximately 45% following the announcement that the FDA has not determined a path forward for its lead drug candidate RP1 under the accelerated approval pathway after a Type A meeting [1] Group 1: FDA Interaction and Stock Impact - On September 16, 2025, Replimune completed a Type A meeting with the FDA regarding its Biologics License Application (BLA) for RP1, but no clear path for accelerated approval was established [1] - The company's stock had previously plummeted by 77% on July 22, 2025, after the FDA issued a Complete Response Letter (CRL) rejecting the BLA for RP1, resulting in billions in market value loss [2][3] Group 2: Legal Actions and Allegations - A securities class action lawsuit has been filed against Replimune, alleging that the company misled investors by overstating the success of RP1, which contributed to the stock's dramatic decline [2][4] - The lawsuit claims that Replimune failed to disclose regulatory concerns regarding the IGNYTE trial, which was deemed not well-designed or controlled by the FDA [3][4] Group 3: Investigation Insights - Hagens Berman is investigating whether Replimune misled investors about the likelihood of success for the IGNYTE trial, citing fundamental flaws in the trial's design and patient population [5][6][7] - The investigation focuses on whether management was aware of the trial's inadequacies and failed to disclose this information to investors [6][7]