The big news here is FDA advisors voting in favor of the agency supporting the gene therapy treatment. Eight of the agency’s panelists voted in favor of the treatment while six voted against it.
Investors will keep in mind that the FDA doesn’t have to side with the votes of its advisors. Even so, it takes the votes into account and often takes the same stance as the advisory panel when considering approval for treatments.
Christopher Cassidy, one of the panelists that has Duchenne muscular dystrophy, was in favor of Sarepta’s gene therapy. Cassidy pointed to videos of children from Sarepta’s study running, jumping and playing. He said he progress shown in the videos was “nothing short of miraculous.”
What This Means for SRPT Stock
Considering the panelists’ approval, it seems likely that the FDA will follow suit with its own approval of the Duchenne muscular dystrophy gene therapy. If that happens, it would be a major win for investors in SRPT stock, as it would lead to a commercial release of the treatment.
That has investors excited today with some 4 million shares changing hands. For the record, the company’s daily average trading volume is about 1.6 million shares. Also, SPRT stock is up 29% as of Monday morning.
There’s more recent stock market news worth reading about below!
We’ve got all of that news read to know for traders! Monday’s biggest stock market stories include what’s moving shares of Tesla (NASDAQ:TSLA), NRG Energy (NYSE:NRG) and Mullen Automotive (NASDAQ:MULN) stock. You can catch up on all of this news at the following links!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.