FDA Will Ask Sarepta to Halt Gene Therapy Shipments
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The restructuring enacted by Sarepta Therapeutics is expected to save up to $400 million in annual costs. Read why I'm downgrading SRPT stock from Hold to Sell.
According to multiple reports, a 51-year-old man with limb-girdle muscular dystrophy died from acute liver failure after receiving an experimental treatment in a Phase 1 study.
The drop comes the day after the drugmaker said it would add a so-called black-box warning to its gene therapy Elevidys after two teenage boys receiving the treatment died earlier this year.
Shares of Sarepta Therapeutics plummeted nearly 30% premarket Friday following a report that a third patient has died during a clinical trial for one of its medications.
Sarepta Therapeutics, Inc. faces setbacks with Elevidys, safety issues, and workforce cuts, raising concerns about its outlook. Click for my SRPT stock update.
The drop comes the day after the drugmaker said it would add a so-called black-box warning to its gene therapy Elevidys after two teenage boys receiving the treatment died earlier this year.
Sarepta agrees to FDA's black box warning and announces major restructuring, including job cuts and cost-saving measures to meet 2027 goals.
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