Capricor falls after FDA to hold advisory meeting for cell therapy

Shares of drug developer Capricor Therapeutics CAPR.O fall 14.12% to $10.19

CAPR says FDA has confirmed its intent to hold an advisory committee meeting to discuss co's experimental cell therapy

Says an official date has not yet been set

Co is seeking approval for its therapy, deramiocel, as a treatment for patients diagnosed with Duchenne muscular dystrophy (DMD) cardiomyopathy

DMD cardiomyopathy is a heart muscle complication that can develop in individuals with the genetic condition that causes progressive muscle weakness

"We believe deramiocel remains on track to be approved with the requested label, and believe today's share weakness is unwarranted" - H.C. Wainwright analyst Joseph Pantginis

FDA set to make decision by August 31

Up to last close, stock down ~24% YTD