FDA Will Ask Sarepta to Halt Gene Therapy Shipments
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A 51-year-old man died last month after receiving an experimental treatment from Sarepta, the third death this year tied to the company's gene therapies
Shares of Sarepta Therapeutics (NASDAQ: SRPT) plunged 26.85% in Friday pre-market after a clinical trial participant died following treatment with a gene therapy, marking the third death linked to the company's experimental treatments.
Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision genetic medicine for rare diseases, today issued the following statement:
The drastic cost-cutting move follows the deaths of two teenagers that forced the company to restrict usage of its gene therapy for Duchenne muscular dystrophy.
The FDA will request Sarepta Therapeutics stop all shipments of Elevidys, its gene therapy for Duchenne muscular dystrophy, following two deaths tied to the product.
Investing.com -- Sarepta Therapeutics (NASDAQ: SRPT) stock soared 36% in after-hours trading Wednesday after the biotech company announced a major strategic restructuring plan designed to ensure long-term financial sustainability while focusing on high-impact programs.
Sarepta Therapeutics, Inc. (NASDAQ:SRPT) is one of the 10 Best Small-Cap Stocks to Buy According to Billionaires. On July 10, JPMorgan lowered its price target for Sarepta Therapeutics, Inc. (NASDAQ:SRPT) from $30 to $28 but kept an “Overweight” rating.