shares of alvotech have rebounded on monday from a minor selloff last week following the companys disclosure that approval for its drug candidate avt02 would likely be delayed in the us the stock is up 20 at 930 in premarket trading at fridays close shares had fallen 22 since the start of the year the icelandic company said wednesday that it had received a complete response letter from the us food and drug administration for a second biologics license application it submitted for avt02 a biosimilar candidate to abbvies humira because approval is likely to be delayed alvotech said it would explore options to raise additional capital to continue advancing pipeline development in the nearterm shares sank by more than 8 the next day but recovered on friday to close at 774