Sarepta soars on plan to cut jobs following two patient deaths

** Shares of gene therapy maker Sarepta Therapeutics SRPT.O soar 20.6% to $22.1

** The company said late Wednesday it plans to cut 36% of its workforce, or about 500 jobs, following a setback with its gene therapy Elevidys, which was linked to two patient deaths

** Elevidys is the only gene therapy approved by the U.S. Food and Drug Administration to treat a muscular disorder known as Duchenne muscular dystrophy in patients aged four and above

** As of December 31, 2024, co had 1,372 employees - SEC filing

** The FDA will add a black box warning to co's gene therapy, Elevidys, for serious liver risks

** Co appointed Ryan Wong as chief financial officer

** Including session's move, SRPT stock down 81.9% YTD