Why Sarepta Therapeutics Fell 14.7% This Week

Sarepta Therapeutics (NASDAQ: SRPT), a biotech company that specializes in genetic therapies for rare diseases, dropped 14.7% this week, according to data from S&P Global Market Intelligence. The stock opened at $96.18 on Monday, then plummeted sharply, falling as low as $83.01 on Wednesday, before rallying a bit on Thursday, only to fall back down later in the day.

There was plenty of news for the week, not all of it bad, but investors reacted skittishly to the developments. To start the week, the company announced results from its three phase 3 trials for SRP-9001 to treat Duchenne muscular dystrophy (DMD), which is caused by gene mutations that disrupt the dystrophin protein that is crucial for muscle functions. The trials, which measured the response of SRP-9001 on 120 juvenile patients, said that patients improved on the North Star Ambulatory Assessment (NSAA) scale compared with untreated patients. The NSAA measures functional motor skills in ambulatory children who have DMD. Apparently, investors did not think that was enough of a change for the therapy to make a big splash.

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Source Fool.com