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Sarepta Therapeutics Shares Down 3% on FDA's Clinical Hold on SRP-5051

Stock Markets Jun 24, 2022 05:56
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By Davit Kirakosyan

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) shares were trading more than 3% lower after-hours following the company’s announcement, according to which the U.S. Food and Drug Administration (FDA) placed a clinical hold on SRP-5051 (vesleteplirsen) for the treatment of Duchenne muscular dystrophy.

The hold is placed on 5051-201, the Phase 2, multi-arm, ascending dose study of SRP-5051, also known as MOMENTUM, following a serious adverse event of hypomagnesemia.

The company said it will respond to the FDA in the next few days with the requested information on all cases of hypomagnesemia, including a small number of non-serious grade 2 cases, to assess the adequacy of the risk mitigation and safety monitoring plan.

Sarepta Therapeutics Shares Down 3% on FDA's Clinical Hold on SRP-5051
 

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