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.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision genetic medicine for rare diseases, today issued the following statement:

Key Takeaways Sarepta Therapeutics shares were down nearly 25% early Friday morning.The tumble followed a report that a third patient has died during a clinical trial for its Elevidys drug that treats muscular dystrophy.

Stocks on Sky High. Sarepta Therapeutics, Inc. (NASDAQ:SRPT) is one of the top-performing companies on Thursday. Sarepta Therapeutics saw its share prices rise by 19.53 percent on Thursday to close at $21.

Sarepta Therapeutics shares surged 34% in after-hours trading on Wednesday after the company said it would slash 500 jobs, or 36% of its workforce, as part of its restructuring plan. The move is expected to decrease costs by $400 million annually starting in 2026,

Sarepta's cost-saving moves, FDA surprises, and pipeline potential position SRPT as a unique opportunity. Read here for an investment analysis.

Shares of drug developer Sarepta Therapeutics surged more than 20% in morning trading, rising after the late-Wednesday news that the company would shrink its workforce and pause several developmental projects as part of a restructuring plan.