Sarepta/Roche's Closely Watched Duchenne Gene Therapy Faces More FDA Scrutiny - Stock Tanks
Portfolio Pulse from Vandana Singh
Sarepta Therapeutics Inc (NASDAQ:SRPT) released topline results from its Phase 3 study of Elevidys, a gene therapy for Duchenne muscular dystrophy. The results showed improvements in patients but did not reach statistical significance. The news led to a 43.8% drop in SRPT shares. Roche Holdings AG (OTC: RHHBY) is collaborating with Sarepta on this project.
October 31, 2023 | 12:13 pm
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NEUTRAL IMPACT
Roche is collaborating with Sarepta on the Elevidys project.
Roche is collaborating with Sarepta on the Elevidys project. However, the news does not directly impact Roche's stock as it is Sarepta that is primarily responsible for the drug's regulatory approval and commercialization in the U.S.
CONFIDENCE 100
IMPORTANCE 50
RELEVANCE 50
NEGATIVE IMPACT
Sarepta's stock price dropped significantly due to the less than expected results from the Phase 3 study of Elevidys.
The stock price of Sarepta dropped significantly due to the less than expected results from the Phase 3 study of Elevidys. This indicates that the market had high expectations for the drug, which were not met.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100