Why Sarepta Therapeutics Stock Is Crashing Today
Shares of Sarepta Therapeutics (NASDAQ: SRPT) were crashing 50.7% as of 11:11 a.m. EST on Friday. The huge decline came after the biotech announced top-line results late on Thursday from the first part of a clinical study evaluating experimental gene therapy SRP-9001 in treating Duchenne muscular dystrophy (DMD).
Sarepta reported that SRP-9001 met its primary biological endpoint of micro-dystrophin protein express. DMD is caused by a genetic mutation that results in lower or no production of dystrophin, which is important for muscles to function properly.
But the big story from Sarepta's clinical update was that SRP-9001 didn't achieve a statistically significant improvement in the primary functional endpoint of an increased North Star Ambulatory Assessment (NSAA) total score. NSAA measures the functional motor abilities of children with DMD using a 17-item scale.
Source Fool.com
