Sarepta tumbles after second patient death from gene therapy treatment

Sarepta Therapeutics is down nearly 40% in premarket trading after the company disclosed over the weekend that a second patient receiving its experimental gene therapy died of liver failure.

The company said Sunday that it would halt commercial shipments of Elevidys, a muscular dystrophy gene therapy, for nonambulatory individuals “until enhanced regimen is approved and in place,” while also pausing a clinical trial that may allow for broader use of the treatment in the future. The company reported the first death of a patient on the drug due to acute liver failure in March.

Elevidys, which came out in 2023, is the biggest chunk of Sarepta’s revenue. Last year the drug brought in $820.8 million in revenue, and analysts expected the company to sell $1.5 billion this year.

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