Stock of Sarepta Therapeutics Inc. (NASDAQ:SRPT) surged 41.05% in Tuesday pre-market following the U.S. Food and Drug Administration’s (FDA) recommendation to lift the voluntary hold on Elevidys, Sarepta’s gene therapy for Duchenne Muscular Dystrophy.
What Happened: The FDA advised the removal of the voluntary hold on Elevidys, which had been implemented after the demise of an 8-year-old patient in Brazil. The FDA determined that the death was unlikely to be related to treatment with Elevidys, the only approved gene therapy for Duchenne.
