Biotech stock explodes 80% after the FDA approves a key drug (SRPT)
|09/19/2016||Posted by BusinessMediaguide.Com under General World News||
Sarepta Therapeutics shares spiked by as much as 86% in trading on Monday after the US Food and Drug Administration said it approved a key drug.
The FDA approved Exondys 51 (eteplirsen), the first drug approved to treat patients with Duchenne muscular dystrophy (DMD), it said in a statement.
The disease is a rare disorder that affects one in every 3,500 to 5,000 males worldwide. It’s caused by the absence of dystrophin, a protein that helps sustain muscles, and gradually but severely damages muscles, leading to premature death.
“Accelerated approval makes this drug available to patients based on initial data, read more >>>