Shares of Sarepta Therapeutics (NASDAQ: SRPT) were skyrocketing 24.9% higher as of 10:37 a.m. ET on Monday. The huge gain came after the company announced Friday evening that a U.S. Food and Drug Administration (FDA) advisory committee voted in support of accelerated approval of SRP-9001 in treating Duchenne muscular dystrophy (DMD).

Sarepta said that the FDA's Cellular, Tissue and Gene Therapies Advisory Committee voted 8-6 in favor of approving SRP-9001. DMD is caused by genetic mutations that prevent the production of the dystrophin protein. SRP-9001 is a gene therapy that's designed to correct this underlying genetic issue and help produce dystrophin in the muscle tissue.

An 8-6 vote might seem really close. However, the bottom line is that Sarepta got the positive advisory committee recommendation that it needed.

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Source Fool.com