Shares of the medical research and drug development company, Sarepta Therapeutics (NASDAQ: SRPT) were down in morning trading on Thursday after a Stat News report indicated that certain FDA staff members were initially opposed to the company’s gene therapy candidate SRP-9001 before the FDA eventually agreed to hold an AdCom meeting on May 12 regarding its approval.
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SRP-9001 is an investigational gene therapy treatment currently under the FDA review for Duchenne muscular dystrophy, a severe muscular dystrophy with a Prescription Drug User Fee Act (PDUFA) regulatory action date on May 29, 2023.
Analysts are bullish about SRPT stock with a Strong Buy consensus rating based on 18 Buys and three Holds.