Here's Why Sarepta Therapeutics Dropped 39.4% in August
Shares of Sarepta Therapeutics (NASDAQ: SRPT) fell more than 39% last month, according to data provided by S&P Global Market Intelligence. The biopharma received a couple of pieces of bad news from the U.S. Food and Drug Administration (FDA) regarding two important drug candidates aimed at treating Duchenne muscular dystrophy (DMD).
First, an FDA database tracking serious side effects flagged SRP-9001 after a boy receiving the drug candidate in a clinical trial saw creatine kinase levels spike. Second, the FDA sent Sarepta Therapeutics a complete response letter (or CRL, which withholds approval for marketing) for Vyondys 53, which investors were hoping could hit the market by 2020.
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Source Fool.com
