Sarepta hits over 9-year low following third patient death in gene therapy trials

Shares of gene therapy maker Sarepta Therapeutics SRPT.O plunge 33.4% to a more than nine-year low of $14.63

A 51-year-old man enrolled in an early-stage study of one of company's gene therapies, SRP-9004, has died from acute liver failure

This marks the third death this year for Sarepta, following the deaths of two teenage boys who had received Elevidys

SRP-9004 was being tested for limb-girdle muscular dystrophy, a group of genetic disorders that primarily weaken the hip and shoulder muscles

The U.S. FDA will request Sarepta to voluntarily stop all shipments of its gene therapy, Elevidys, a source familiar with the matter told Reuters

U.S. FDA is already probing two earlier deaths due to acute liver failure in non-ambulatory Duchenne muscular dystrophy patients after receiving Elevidys

*"Although the development of SRP-9004 has been discontinued, we believe the death could lead to greater scrutiny of SRP-9003's safety profile ahead of its BLA submission and could affect commercial interest, if approved" - brokerage William Blair

Including session's moves, SRPT down 87% YTD