Sarepta Stock Jumps 82% On Approval Of Controversial Duchenne Muscular Dystrophy Drug

By Markets MarketWatch Pulse

Sarepta Therapeutics Inc. shares hurtled up as much as 82% in morning trade Monday after the Food and Drug Administration granted its Duchenne muscular dystrophy drug - the first treatment for the degenerative disease - accelerated approval. The drug, eteplirsen, has had an unusually long and controversial history with the FDA. An agency advisory committee voted against recommending approval earlier this year, but the agency then delayed a decision about approval, which was expected months ago. News of a prominent critic of the drug departing from the FDA last week again stoked speculation about a possible approval. Duchenne muscular dystrophy, which mostly affects boys, typically kills patients before the age of 30. Patients and their families were particularly outspoken advocates for the approval of eteplirsen, pushing back against the agency's concerns at meetings open to the public. Sarepta shares rose 160.7% over the last three months, compared with a 3.9% rise in the S&P 500 .

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.