Sarepta Will Resume Gene Therapy Shipments
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Sarepta Therapeutics’ stock was soaring Tuesday after the FDA recommended lifting the pause on the company’s Duchenne muscular dystrophy drug, but analysts worry it will take time for patients and doctors to feel safe using it.
Shares of Sarepta Therapeutics surged Tuesday morning after the company said it had been informed by the Food and Drug Administration that it could resume shipping a drug it paused sales of last week.
This regulatory relief, combined with several other compelling catalysts, creates a pathway for the stock to potentially double from current levels to around $40
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Sarepta shares gained even though the U.S. Food and Drug Administration said late Friday that it was probing the death of an 8-year-old boy who received Elevidys, Sarepta’s gene therapy for Duchenne muscular dystrophy. Two other boys have died in recent months after taking the medicine.