Kite Pharma Inc. shares bounced back on Monday after the company acknowledged the death of a clinical trial patient. According to the clinical-stage biopharmaceutical company, the patient’s death was not related to cell therapy.

While providing more information on the matter, Arie S. Belldegrun, Chief Executive of Kite Pharma, said the company organized a conference call with some analysts to discuss the matter hovering in the market.

The company confirmed the death of a patient during a trial of KTE-C19 cell therapy, but it also found that the death was not related to the treatment. Belldegrun said after the sudden death of the patient included in the study, a clinical investigator reviewed the matter and found that the death was unrelated to the company’s treatment product.

Belldegrun also said that the Food and Drug Administration (FDA) has allowed the Santa Monica company to carry on with the trial and enroll some new participants.

Shares of the company started to fall on Thursday after speculations about the death related to the company’s product. KTE-C19 of Kite Pharma is a therapy for those patients who have poor prognosis and failed in prior chemotherapy treatments.

The latest statement by Belldegrun on the clinical trial results is expected to calm the company’s investors. On Monday, stock of Kite gained about $2.32 and closed at $60.32.

According to Belldegrun, “We have seen tumors melting away in weeks and complete responses in a very sick and desperate group of patients with one of the worst types of aggressive cancers”.