This market will resolve to No if the FDA's decision is a denial (CRL issued), a withdrawal by the sponsor, or a conditional approval — or if no decision is issued.

Ifinatamab deruxtecan (also called I-DXd or DS-7300) is an antibody-drug conjugate — think of it as a guided missile where a targeting protein is chemically linked to a potent cancer-killing payload. The targeting protein homes in on a molecule called B7-H3 (also known as CD276), which appears in unusually high amounts on the surface of many cancer cells, and once the drug locks onto that target it is pulled inside the cell and releases its toxic payload. In doing so, it aims to kill tumor cells more precisely than traditional chemotherapy, which attacks both healthy and cancerous cells indiscriminately.