Sarepta slides after FDA posts serious adverse event for gene therapy

Shares of Sarepta, which had been lower following the company’s quarterly report, have fallen further in afternoon trading after a serious adverse event linked to the company’s SRP-9001 treatment was added to an FDA database that tracks such adverse events. The event, that occurred on February 1, involved a male patient who was hospitalized with rhabdomyolysis, a serious syndrome due to a direct or indirect muscle injury that can lead to serious complications such as kidney failure. Sarepta shares, which had been lower after the company reported second quarter results last night, have accelerated to the downside this afternoon following the FDA database posting coming to light. In afternoon trading, Sarepta shares are down $25.76, or 18%, to $116.50.