On March 16, 2023, after market hours, the Company issued a press release which “announced that at its late cycle meeting for the SRP-9001 (delandistrogene moxeparvovec) biologics license application (BLA), the U.S. Food and Drug Administration’s Office of Therapeutics (OTP) has determined that an advisory committee meeting will be held for SRP-9001 in advance of the May 29, 2023 regulatory action date.”
On this news, the price of Sarepta’s stock fell $26.98, or 18%, to close at $122.69 per share on March 17, 2023, the next trading day.
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