Is Sarepta Therapeutics' Gene Therapy in Danger of Not Obtaining FDA Approval?
Shares of Sarepta Therapeutics (NASDAQ: SRPT) nosedived last week as the Food and Drug Administration (FDA) did not approve the company's gene therapy treatment, SRP-9001. Panic has been setting in, as the stock has been in sell-off mode.
Should investors be worried about this development, or is this just a bump in the road for the biotech stock?
Investors were expecting a decision on Sarepta's gene therapy SRP-9001 this week. The therapy is a potential treatment for Duchenne muscular dystrophy (DMD), a severe genetic muscle disorder that can significantly shorten a person's life span with the average life expectancy of around 27 years. The FDA, however, delayed its decision on the treatment and will now make a decision on or before June 22.
Source Fool.com