FDA asks Sarepta to stop shipping gene therapy
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Sarepta Therapeutics lays off 493 workers amid FDA probe, stock drop, and concerns over its gene therapy treatment, Elevidys.
Shares of struggling drug developer Sarepta Therapeutics skyrocketed nearly 40% in extended trading Wednesday after the company unveiled a major restructuring plan.
The drop comes the day after the drugmaker said it would add a so-called black-box warning to its gene therapy Elevidys after two teenage boys receiving the treatment died earlier this year.