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Published August 14, 2025
Sarepta boasted about its breakthrough gene therapy. But when two patients died, trials were halted, the FDA came knocking, and the stock went into freefall. Now, investors are fighting back with a class-action lawsuit.
For two years, Sarepta executives sold a confident story about ELEVIDYS, a gene therapy for Duchenne muscular dystrophy. Execs called it a “watershed moment,” and bragged about strong demand. They also emphasized ELEVIDYS was safe and effective. But according to the lawsuit, Sarepta had already missed early signs of danger.
The first warning came in March 2025, when Sarepta admitted a patient had died from acute liver failure after receiving ELEVIDYS. That same month, European regulators demanded a full safety review. Things got worse in June, when a second ELEVIDYS patient died. Sarepta suspended research. Just days later, the FDA launched an investigation.
Once investors heard that news, they quickly dumped their shares. Sarepta’s stock plunged 27% after the first death, then another 42% in June after the second death. It kept falling, losing more than 60% of its value.
Now, more investors are joining the lawsuit.