Instil Bio’s stock falls 35% after disclosing the cell therapy company paused enrollment in clinical trials

Shares of Instil Bio Inc. tumbled 35.1% in premarket trading on Monday after the company said it paused enrollment in clinical trials for two experimental cell therapies due to manufacturing issues. Instil said it had notified regulators, and the decision is not the result of a clinical hold. “This pause in enrollment provides us an opportunity to refine our processes and enable us to manufacture and deliver TIL therapies to patients with no other treatment options,” Instil CEO Bronson Crouch said in a news release. The company plans to share an update on its manufacturing process in the first quarter. Instil’s stock has declined 69.3% so far this year, while the S&P 500 is down 18.5%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.