Why Sarepta Therapeutics Stock Is Skyrocketing Today
Shares of Sarepta Therapeutics (NASDAQ: SRPT) were skyrocketing 24.9% higher as of 10:37 a.m. ET on Monday. The huge gain came after the company announced Friday evening that a U.S. Food and Drug Administration (FDA) advisory committee voted in support of accelerated approval of SRP-9001 in treating Duchenne muscular dystrophy (DMD).
Sarepta said that the FDA's Cellular, Tissue and Gene Therapies Advisory Committee voted 8-6 in favor of approving SRP-9001. DMD is caused by genetic mutations that prevent the production of the dystrophin protein. SRP-9001 is a gene therapy that's designed to correct this underlying genetic issue and help produce dystrophin in the muscle tissue.
An 8-6 vote might seem really close. However, the bottom line is that Sarepta got the positive advisory committee recommendation that it needed.
Source Fool.com
Sarepta Therapeutics Stock
The community is currently still undecided about Sarepta Therapeutics with 1 Buy predictions and 0 Sell predictions.
With a target price of 130 € there is a slightly positive potential of 8.65% for Sarepta Therapeutics compared to the current price of 119.65 €.
