Sarepta dives on reports that FDA will ask it to stop selling gene treatment
The Food and Drug Administration will request Sarepta Therapeutics to stop all shipments of its most lucrative drug after it disclosed last month that a second patient receiving its experimental gene therapy died of liver failure, sources told Reuters and Stat News.
The drug, Elevidys, which treats muscular dystrophy, accounts for about half of Sarepta’s revenue. The company had already halted some commercial shipments of the drug last month.
Shares fell by 38% Friday afternoon and the company is down nearly 90% since the start of the year.
The drug, Elevidys, which treats muscular dystrophy, accounts for about half of Sarepta’s revenue. The company had already halted some commercial shipments of the drug last month.
Shares fell by 38% Friday afternoon and the company is down nearly 90% since the start of the year.
