Robbins Geller Rudman & Dowd LLP announces an investigation into potential violations of U.S. federal securities laws by Sarepta Therapeutics, Inc. (NASDAQ: SRPT) focused on whether Sarepta and certain of its top executive officers made false and misleading statements and/or failed to disclose material information to investors.
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THE COMPANY: Sarepta is a commercial-stage biopharmaceutical company focused on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. Sarepta is developing SRP-9001 (delandistrogene moxeparvovec), an investigational gene transfer therapy intended to deliver SRP-9001 to muscle tissue for the targeted production of functional components of dystrophin.
THE REVELATION: On March 16, 2023, Sarepta issued a press release stating that “at its late cycle meeting for the SRP-9001 (delandistrogene moxeparvovec) biologics license application (BLA), the U.S. Food and Drug Administration’s Office of Therapeutics (OTP) has determined that an advisory committee meeting will be held for SRP-9001 in advance of the May 29, 2023 regulatory action date.” Following this news, the price of Sarepta stock fell by approximately 18%.
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