Sarepta Therapeutics Stock Plummets on Failed Clinical Trial
Sarepta Therapeutics shares cratered 36% in premarket trading after a nine-year clinical trial for two Duchenne muscular dystrophy treatments failed to meet its primary endpoint. The study, involving 225 patients aged 6-13, showed marginal improvement in physical function but lacked statistical significance.
The biotech firm attributed partial blame to COVID-19 disruptions during the trial period. This setback compounds existing challenges, including last July's temporary market withdrawal of Elevidys gene therapy following patient fatalities.
Despite the clinical failure, Sarepta posted stronger-than-expected Q3 revenue of $399.4 million, surpassing analyst estimates by nearly 18%. The mixed results highlight the volatile nature of biotech investments, where scientific progress and financial performance often diverge sharply.
