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Why is 2 Seventy Bio Inc (TSVT) Stock down?

We've noticed a 5.15% decline in 2 Seventy Bio Inc (TSVT) stock during the 2024-06-18 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
20 Nov, 2023:

2seventy Bio Inc Stock (TSVT) dropped by 18.31% from $2.13 to $1.74 in the trading on Monday November 20, 2023. The reasons why TSVT stock down today is due to the delay in FDA approval. The ODAC will review data for its Abecma gene therapy based on results from the pivotal Phase 3 KarMMa-3 study. The FDA has not yet confirmed the date of the ODAC meeting and has informed the companies that a decision on the application will not be made by the Prescription Drug User Fee Act (PDUFA) target action date of December 16, 2023.

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