Sarepta Plunges 50% After FDA Rejects Key Drug
2016 has been a tempestuous year for Serepta shareholders. From over $40 to just $10 and then the miracle ramp from february back to $25 before the writing on the wall ahead of last night's FDA decision and now - following yesterday's monstrous short-squeeze (36% surge), a 50% collapse to $8 - a 4 year low for yet another Biotech darling of old. This morning's collapse comes after the FDA voted that SRPT's muscular dystrophy drug was not effective...
As Bloomberg reports,