Sarepta Plunges After FDA Advisers Don't Back DMD Drug
- Panel voted 7-3 that muscle drug wasn't shown to be effective
- Shares fall 26 percent following Monday's FDA meeting
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Sarepta Therapeutics Inc. plummeted Tuesday after it failed to win the backing of a panel of U.S. regulatory advisers for its experimental drug to treat a devastating muscle disease called Duchenne muscular dystrophy.
Advisers to the Food and Drug Administration voted 7-3, with three members abstaining, on Monday that there wasn’t enough evidence from a key clinical trial to show the drug is effective against the disease. Taken during an emotional and at times volatile public meeting, the vote was another setback for the company after it faced questions last week about testing of the drug, called eteplirsen. The shares fell 26 percent to $11.02 at the close Tuesday in New York.