The shares of Sarepta Therapeutics Inc. they lost more than half of their value during out-of-hours business operations on Thursday, after the company said a drug candidate was producing mixed results in a clinical study.
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announced that the drug was able to help patients with Duchenne muscular dystrophy produce specific proteins that they do not normally produce due to the disease in the first 12 weeks of treatment. However, functional changes over a longer period of time (48 weeks) were not statistically significant against a placebo.
“We intend to continue to move forward with diligence and urgency to generate the evidence needed to bring SRP-9001 to Duchenne patients waiting around the world,” chief executive Doug Ingram said in a press release on Thursday. late.
Shares of Sarepta rose more than 50% after the out-of-hours trading halted as news broke and executives held a conference call on Thursday. Shares closed Thursday up 1.5% to $ 168.95, but traded below $ 80 in the extended session. Sarepta shares have gained almost 30% over the past year, as the S&P 500 SPX index,
has gained 15.8%.