Biotech Stock Soars on Restructuring Plan, Layoffs
Biopharma stock Sarepta Therapeutics Inc (NASDAQ:SRPT) is soaring today, up 20.6% at $22.17 at last glance.
Sarepta Therapeutics: What's Happening With SRPT Stock?
Sarepta Therapeutics stock (NASDAQ: SRPT) experienced a significant turnaround on Wednesday, with shares rising 33% in after-hours trading following the announcement of an extensive restructuring plan, which involves laying off 500 employees — nearly 40% of its workforce of over 1,300. The company also plans to halt several gene therapy programs, including the majority of its limb-girdle muscular dystrophy initiatives.
Sarepta Stock Soars 30%. Why Layoffs and a ‘Black-Box' Warning Are Good News.
The pharma company said it would lay off a third of its workforce and add a black-box warning to its controversial gene therapy Elevidys.
Sarepta: Finally, A Little Relief For Bulls; I Expect More
Sarepta's turnaround is just beginning, with decisive management actions like layoffs boosting confidence and saving $100 million annually. The market had priced in the worst for Elevidys, but the FDA's black box warning was a positive surprise, opening potential future catalysts. Sarepta is not a one-trick pony; upcoming clinical results for SRP-9003 and other pipeline assets add upside optionality.
Sarepta Drops 42% on Fatalities; Markets Eye Solid Biosciences
In another tragic incident, Sarepta Therapeutics NASDAQ: SRPT saw a second death in connection with its Duchenne muscular dystrophy (DMD) treatment ELEVIDYS. The patient passed away due to acute liver failure (ALF) after doctors treated them with ELEVIDYS.
SRPT Stock: What's Happening With Sarepta Therapeutics?
Sarepta Therapeutics (NASDAQ: SRPT) suffered a devastating blow on Monday, June 16 when its stock plummeted 42% following news of a second patient death linked to its Duchenne muscular dystrophy gene therapy, Elevidys. The biotechnology company and its global partner Roche immediately suspended commercial and clinical use of the treatment in non-ambulatory patients pending a comprehensive safety review.
SRPT Down Near 9-Year Low, CSCO Upgrade, ROKU Using AMZN Ads
Sarepta Therapeutics (SRPT) sold off more than 40% after suspending its Elevidys Duchenne muscular dystrophy drug, which was linked to two fatal liver failure cases. Diane King Hall break takes a closer look into the report.
SRPT Plummets on Second Patient Death After DMD Gene Therapy Infusion
Sarepta's shares sink as second Elevidys-linked death triggers safety concerns, dosing halts and trial pauses.
Sarepta Therapeutics stock drops following second death linked to gene therapy Elevidys
Sarepta Therapeutics Inc (NASDAQ:SRPT) shares plunged almost 45% after the company disclosed the death of a second patient from acute liver failure linked with its experimental gene therapy Elevidys for Duchenne muscular dystrophy (DMD). In response, the company is convening an independent expert panel to evaluate and develop an enhanced immunosuppressive regimen, including sirolimus, to reduce the risk of acute liver failure in non-ambulatory DMD patients treated with Elevidys, with any new protocol subject to Food and Drug Administration (FDA) review and approval.
Sarepta Therapeutics' Elevidys Liver Deaths Trigger Selloff, A Contrarian Opportunity
Sarepta's stock has plunged due to safety concerns with ELEVIDYS, including two deaths in non-ambulatory DMD patients and regulatory uncertainty. Despite these setbacks, ELEVIDYS remains effective for ambulatory patients, and Sarepta is proactively addressing safety via enhanced immunosuppression and trial amendments. Valuation appears depressed, with the market pricing in a worst-case scenario, but historical precedent (ZOLGENSMA) suggests recovery is possible if risks are managed.
Sarepta Stock Crashes After Death of Second Patient Receiving Its Gene Therapy
A second patient receiving its experimental gene therapy Elevidys has died from liver failure, raising serious questions on the drug's outlook.
Sarepta shares tumble on second patient death after gene therapy treatment
Shares of Sarepta Therapeutics plunged 34% in premarket trading on Monday, a day after the company disclosed a second case of patient death due to acute liver failure after receiving its gene therapy for a rare form of muscular dystrophy.
