Reports of a third death of a patient following treatment with a Sarepta (SRPT) gene therapy add to ongoing safety concerns and near-term uncertainty, says Morgan Stanley analyst Michael Ulz. The company confirmed the death occurred in a 51 year old male in the Phase 1 study of SRP-9004 for limb-girdle muscular dystrophy type E due to acute liver toxicity, notes the analyst, who believes the third death further increases the near-term uncertainty for Elevidys and expects shares to be under pressure today. The firm maintains an Equal Weight rating and $40 price target on Sarepta shares.
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