Sarepta falls after 2025 product revenue forecast cut, top vaccine official appointment

Shares of gene therapy maker Sarepta Therapeutics SRPT.O sink 19.83% to $37.48 premarket

Co sees 2025 net product revenue of $2.3 billion to $2.6 billion, compared with previous expectation of $2.9 billion to $3.1 billion

Sarepta shares were pressured on Tuesday after U.S. FDA named Vinay Prasad as the director of its Center for Biologics Evaluation and Research

The combination of the new appointment, Q1 miss and forecast cut has "triggered major investor concerns around SRPT's upcoming regulatory/commercial/financial headwinds" - BMO Capital Markets

We see a long tunnel to recovery but believe there's light at the end - brokerage

Up to last close, stock had fallen ~62% YTD