Sarepta Jumps After Pfizer's Rival Gene Therapy Flops In Phase 3

 Sarepta stock jumped Thursday after Pfizer's (PFE) rival gene therapy for Duchenne muscular dystrophy failed in final-phase testing.

The news gives Sarepta Therapeutics (SRPT) an edge heading to June 21, when the Food and Drug Administration will decide whether to fully approve Elevidys for patients with the muscle-wasting disease. Elevidys has accelerated approval to treat children age 4 and 5 who can still walk. But Sarepta hopes the FDA will allow older and non-ambulatory children to receive the gene therapy.

For Pfizer, the results are the "final nail in the coffin for the program," Leerink Partners analyst Joseph Schwartz said in a report. Pfizer is still evaluating its next steps, but Schwartz says it's unlikely Pfizer will move forward with the gene therapy.

https://www.investors.com/news/technology/sarepta-stock-pfizer-gene-therapy-failure-duchenne-muscular-dystrophy/