In a surprise, a FDA advisory panel voted that risks tied to a GSK blood cancer drug called Blenrep outweighed the benefits seen in trials

Shares of Sarepta Therapeutics plummeted Friday following a report that a third patient has died during a clinical trial for one of its medications.

Stocks on Sky High. Sarepta Therapeutics, Inc. (NASDAQ:SRPT) is one of the top-performing companies on Thursday. Sarepta Therapeutics saw its share prices rise by 19.53 percent on Thursday to close at $21.

The FDA will request Sarepta Therapeutics stop all shipments of Elevidys, its gene therapy for Duchenne muscular dystrophy, following two deaths tied to the product.

Sarepta Therapeutics shares surged 34% in after-hours trading on Wednesday after the company said it would slash 500 jobs, or 36% of its workforce, as part of its restructuring plan. The move is expected to decrease costs by $400 million annually starting in 2026,

Sarepta's cost-saving moves, FDA surprises, and pipeline potential position SRPT as a unique opportunity. Read here for an investment analysis.

The drastic cost-cutting move follows the deaths of two teenagers that forced the company to restrict usage of its gene therapy for Duchenne muscular dystrophy.

Shares of drug developer Sarepta Therapeutics surged more than 20% in morning trading, rising after the late-Wednesday news that the company would shrink its workforce and pause several developmental projects as part of a restructuring plan.