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Sarepta stock rises after FDA approves biotech’s Duchenne MD treatment

Shares of Sarepta Therapeutics Inc. SRPT, +1.14% rose nearly 1% in late trading Thursday after the biotech company said the U.S. Food and Drug Administration has approved one of its treatments for Duchenne muscular dystrophy in patients with certain mutations. The continued approval of the injection, called amondys 45, could be contingent on confirmation of a clinical benefit in further trials, Sarepta said. A placebo-controlled trial to support the approval is ongoing and expected to end in 2024, the company said. Shares of Sarepta have lost around 26% in the last 12 months, contrasting with gains around 22% for the S&P 500 index. SPX, -2.45%

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