Sarepta Therapeutics slumps after disclosing second death in gene therapy trial

Shares of Sarepta Therapeutics SRPT.O slump 28% premarket to $26.11, after co discloses second death in gene therapy treatment for a rare form of muscular dystrophy

If losses hold, Sarepta to lose one-third of its market cap

The first case of death was reported in March

Liver damage is a known risk with Elevidys and other gene therapies using adeno-associated viral vectors to infuse modified genes

Co says it has suspended shipments of therapy for non-ambulatory patients and informed global health authorities and FDA

As of last close, SRPT down 70.2% YTD