Celcuity's Revtorpyk receives FDA approval, but launch delay pushes stock lower

The FDA announced approval of Celcuity’s oncology candidate Revtorpyk on Tuesday, marking the company’s first cancer drug clearance.

Analysts had broadly expected the approval and had priced the stock accordingly.

Celcuity disclosed that the drug may not launch until the end of the current quarter, a timeline that surprised investors.

The unexpected delay contributed to a drop in Celcuity’s share price after the announcement.