Why Sarepta Therapeutics Stock Tanked on Thursday
Sarepta Therapeutics (NASDAQ: SRPT), a midcap biotech specializing in the development of treatments for rare diseases, saw its shares plunge by a whopping 12.6% on Thursday before trading was halted at approximately 12:30 p.m. Trading resumed just before the close, and shares finished down just over 6.5%.
Sarepta's shares hit the skids after the company's experimental gene therapy for Duchenne muscular dystrophy (DMD), which is known as SRP-9001, unexpectedly popped up on the Food and Drug Administration's adverse-event reporting system. A 7-year-old boy being treated with the therapy reportedly developed a condition known as rhabdomyolysis, which can lead to kidney failure.
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Source Fool.com
