Sarepta Therapeutics (SRPT) Stock Surges 30% on Giant FDA Boost

SRPT stock, which traded below $117 per share early on June 20, was trading at nearly $160 in pre-market trading this morning. This brought the market capitalization from $11.7 billion to nearly $16 billion. Elevidys, Sarepta's gene therapy, is a single-dose infusion usually given to children in the early stages of the disease. The agency gave traditional approval for these patients and accelerated approval for older ones. Sarepta CEO Doug Ingram called approval "a defining moment for the Duchenne community ...