FDA to Ask Sarepta to Halt Elevidys Shipments
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Three patients with a muscle-wasting disease died from liver failure after taking the therapy, Elevidys, or a similar treatment.
Shares of Sarepta Therapeutics declined 17% in early trading on Friday after another patient who had received an experimental gene therapy died, deepening investor concerns over the use of the company's treatments.
The drastic cost-cutting move follows the deaths of two teenagers that forced the company to restrict usage of its gene therapy for Duchenne muscular dystrophy.
The commercial and clinical use of Elevidys was discontinued after two fatal cases of acute liver failure.
Sarepta Therapeutics said a second patient had died after receiving its $3.2 million gene therapy to treat Duchenne muscular dystrophy.
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Sarepta Therapeutics will cut 500 jobs and add a serious warning on the label of its muscle-disorder gene therapy Elevidys, the drugmaker said on Wednesday, following the recent deaths of two patients who were on the medicine.