Chinese biotechs listed in the US have a watershed day, with many shares nosediving by over 10% amid leadership changes in China, where the retirement of several economic pragmatists appears to be adding to souring investment sentiment amid views on rising uncertainties and risks.

BMS/bluebird and Janssen/Legend have the leading BCMA-targeting CAR-T therapies for multiple myeloma but Poseida, Allogene, CARsgen, Gracell and CBMG are emerging with novel approaches. 

AACR highlighted Gracell’s allogeneic CAR-T targeting CD7, Iovance’s TIL therapy in lung cancer, Gilead’s Yescarta/PD-L1 combination and the NCI’s bispecific CAR-T therapy.

A regulatory framework that encourages physicians to conduct experimental cell and gene therapies have propelled China to become a major developer of such promising cancer-treating tools, but insiders say three are a plethora issues at stake.