Kiroma BioPharma, Inc.
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Kiromic conducted its initial public offering on or around October 16, 2020, selling 1.25 million shares of common stock, priced at $12.00 per share. Kiromic issued a press release on July 16, 2021 which disclosed, following the May 2021 submission of two Investigational New Drug Applications (“INDs”) to the U.S. Food and Drug Administration (“FDA”), that “for the first-in-human off-the-shelf allogeneic CAR-T for Solid Tumors”, the “FDA returned with comments on the Company’s allogeneic CAR-T products with respect to . . . Tracing of all reagents used in manufacturing . . . Flow chart of manufacturing processes . . . [and] Certificate of Analysis (COA) for the Company’s CAR-T products (allogeneic CAR-T).”
On July 16, 2021, Kiromic’s stock price fell $0.63 per share, or 16.76%, on this news, to close at $3.13 per share.
ATI completed its business combination with Fortress Value Acquisition Corp. II (“FVAC II”), a special purpose acquisition company, on June 16, 2021. On July 26, 2021, ATI reported its financial results for the second fiscal quarter of 2021. ATI’s reported results included a net operating revenue of $164.0 million, in comparison to $149.1 million for the first quarter of 2021. ATI also announced that it was lowering guidance for the balance of the fiscal year. ATI’s stock price fell $3.62 per share, or 43.41%, on this news, to close at $4.72 per share on July 26, 2021.