RENT - Why Is Sarepta Therapeutics (SRPT) Stock Up Today?
2024-01-09 11:22:27 ET
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
Sarepta Therapeutics (NASDAQ: SRPT ) stock is rising higher on Tuesday after positive comments were made by its CEO at the J.P. Morgan Healthcare Conference.
Sarepta Therapeutics CEO Douglas Ingram said that the company could see expanded use cases for Elevidys. This is the company’s muscle disorder therapy that recently got approval from the U.S. Food and Drug Administration ( FDA ).
That new FDA approval allows for the muscle disorder therapy to be used in ambulatory children ages four and five with Duchenne muscular dystrophy ( DMD ). Ingram says that this approval could be expanded in as little as six months with a priority review of new supplemental data by the FDA.
How SRPT Stock Investors are Reacting to the Comments
Investors seem excited about the prospect of Elevidys being expanded for more use cases. That has many buying shares of Sarepta Therapeutics stock today. With that comes some 1.4 million shares traded. This is closing in on the company’s daily average trading volume of roughly 1.7 million shares.
SPRT stock is up 7.8% as of Tuesday morning.
Investors looking for more of the latest stock market stories will want to stick around!
InvestorPlace is home to all of the hottest stock market news for Tuesday! Among that is what’s moving shares of Rent the Runway (NASDAQ: RENT ), Rocket Lab (NASDAQ: RKLB ) and Juniper Networks (NYSE: JNPR ) stock today. You can catch up on that news by checking out the links below!
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines .
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