Sarepta Therapeutics Inc. shares tumbled as much as 50% in active volume Tuesday morning after a Food and Drug Administration advisory committee voted against recommending FDA approval for the company’s Duchenne muscular dystrophy drug. The FDA, which does not have to follow the committee’s advice but often does, plans to review the drug May 26. DMD, a rare, inherited degenerative disorder that causes muscle loss and ususally death before the age of 30, affects about one in every 3,500 to 5,000 males globally. Patients and the families of patients with DMD have been actively lobbying for approval of the drug, eteplirsen, with many showing up to the committee meeting Monday. The company shares were the most active in pre-market trading Tuesday, after being halted for a full day, with trading resuming Tuesday at about 7:10 a.m.
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