Sarepta Therapeutics falls after reports of FDA official resigning

ReutersMar 31, 2025 10:56 AM

Shares of gene therapy developer Sarepta Therapeutics SRPT.O down 6.4% at $65.89 premarket

The Wall Street Journal and other media outlets reported on Friday that Peter Marks, a top official at the U.S. FDA, has been pushed out of the agency

Marks was the head of FDA's Center for Biologics Evaluation and Research (CBER)

Brokerage RBC Capital Markets says Marks's resignation eliminates a champion for SRPT's programs

Brokerage says SRPT's Elevidys could come under additional scrutiny by the FDA after the company reported a patient death in March following treatment with the gene therapy

Twenty-one of 24 brokerages rate the stock "buy" or higher, 2 "hold" and 1 "sell"; their median PT is $173.69, according to data compiled by LSEG

Up to Friday's close, the stock had fallen 45.6% in the past 12 months

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