Sarepta down after pausing Elevidys shipments in US

Shares of Sarepta Therapeutics SRPT.O down 1.7% at $13.10; they fell nearly 8% in premarket trading

Co agreed to comply with the U.S. FDA's request to pause all shipments of its gene therapy, Elevidys, in U.S.

FDA asked Sarepta on Friday to voluntarily pause shipments of the gene therapy but the company refused to do so and said it would continue making the treatment available to ambulatory patients

All shipments of Elevidys for Duchenne muscular dystrophy will be temporarily paused by close of business on Tuesday, Sarepta said on Monday

A 51-year-old man enrolled in an early-stage study of one of its gene therapies, SRP-9004, died from acute liver failure last week

SRP-9004 is a different investigational therapy from Elevidys but uses a similar gene technologyTwo enrolled patients who received Elevidys died earlier this year

Separately, the Children's Hospital Los Angeles said on Monday it has paused usage of Elevidys in all patients with muscular dystrophy

Including session moves, SRPT down 89.3% YTD