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GRCL - Gracell Bio Shares Tumble As Investors Blow Hot Cold Over Its Cutting-Edge Cancer Treatment
Gracell Biotechnologies Inc.
Gracell Bio stands to benefit from tax credits and marketing exclusivity following receipt of ‘orphan drug’ status for its CAR-T cancer treatment.
The global CAR T-cell therapy market is projected to grow from $1.1 billion in sales in 2020 to $21.8 billion by 2031, representing a compound annual growth rate of 30.6%.
Analysts see profitability several years away as competition heats up for treatment of relatively low-occurring cancer.