NEW YORK, April 18, 2017 /PRNewswire/ -- Scott+Scott, Attorneys at Law, LLP ("Scott+Scott"), a national shareholder andconsumer rights litigation firm, announces an investigation into Sarepta Therapeutics, Inc. (NASDAQ: SRPT) ("Sarepta" or "the Company"), a corporation headquartered in Cambridge, Massachusetts and incorporated in
Sarepta is a biopharmaceutical company focused on the discovery and development of therapeutics for the treatment of rare, infectious and other diseases. The Company developed the drug eteplirsen for the treatment of Duchenne muscular dystrophy (DMD), a genetic degenerative muscle disease. Eteplirsen is designed to increase the underlying cause of DMD by enabling production of the protein dystrophin.
In October 2015, Sarepta told the public, including investors, that clinical trials of eteplirsen had demonstrated "dystrophin production in nearly all patients," "dystrophin intensity that was statistically significant," and "dystrophin production [that] was in fact robust."
On January 15, 2016, the U.S. Food and Drug Administration ("FDA") released an analysis of Sarepta's eteplirsen trials. Among other things, the FDA pointed out that DMD experts had stated that "induction of approximately 10% of normal dystrophin levels sets a minimum level to confer measurable clinic benefit." Dystrophin levels after Sarepta's eteplirsen treatment were only reported to be about 0.9% of normal. Thus, the FDA report disclosed that eteplirsen had not shown the "significant" increase in dystrophin that Sarepta had touted.
On this news, the price of Sarepta common stock plummeted more than 54%, from $31.63 on January 14, 2016 to close at $14.28 on January 15, 2016.
What You Can Do
If you purchased Sarepta stock between October 1, 2015 and January 15, 2016 and you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Rhiana Swartz at (844) 818-6980, or at [email protected].
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
CONTACT:Rhiana SwartzScott+Scott, Attorneys at Law, LLP(844) 818-6980[email protected]
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SOURCE Scott+Scott, Attorneys at Law, LLP
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