NEW YORK (TheStreet) -- Sarepta Therapeutics (SRPT) plunged Thursday after the company reported data from its Phase II study of eteplirsen, an experimental drug designed to treat Duchenne muscular dystrophy.
The data from 144 weeks of the study showed a greater decline in walking ability in patients treated with the drug compared to previous updates on the study. Sarepta still plans to file for FDA approval of eteplirsen by the end of the year.
Duchenne muscular dystrophy is a degenerative disease that causes patients to progressively lose muscle function and eventually leads to death.
For much more on the Sarepta data, read TheStreet's Adam Feuerstein's in-depth article here.
The stock was down 19.27% to $20.90 at 10:47 a.m. More than 9 million shares had changed hands, compared to the average volume of 1,354,170.