Capricor climbs as FDA says advisory panel meeting not needed for cell therapy

Shares of therapy developer Capricor Therapeutics CAPR.O rise 16.8% to $8.97

Co says the U.S. FDA has indicated that an advisory panel review is not required for its cell therapy deramiocel

The company is seeking approval for the therapy as a potential treatment for patients with a heart disease commonly associated with the muscle weakness condition called Duchenne muscular dystrophy

Last month, the company said the health regulator will hold a panel meeting for deramiocel, causing shares to drop about 13%

The FDA is set to make its decision on August 31

Including session's move, stock down 40.5% YTD