Sarepta Therapeutics Stock Surges 22% In Pre-market Trade After Drug Decision Is Delayed

Sarepta Therapeutics Inc. shares were up 22.6% in pre-market trade Wednesday after the Food and Drug Administration told Sarepta it would not make a decision about the company's Duchenne muscular dystrophy (DMD) drug by the Thursday deadline. The FDA told the company it is continuing its review and internal discussions about the drug and will "strive to complete their work in as timely a manner as possible," Sarepta said. The drug in question, eteplirsen, would - if approved - be the only treatment for DMD. Patients and their families have lobbied heavily in favor of the drug's approval, stoking speculation that the drug might gain approval even despite an advisory committee's vote against the drug late last month.