A securities class action has been filed against Sarepta Therapeutics, Inc. (SRPT) n behalf of persons and entities that purchased or otherwise acquired Sarepta securities between June 22, 2023 through June 24, 2025. This case has been filed in the USDC – SDNY.
Sarepta is a biopharmaceutical company focused on developing treatments for rare diseases. Sarepta’s most important product is Elevidys, a therapy for the treatment of Duchenne muscular dystrophy. During the relevant period, Sarepta repeatedly touted the safety profile of Elevidys and told investors that the benefits of the treatment outweighed its risks. In truth, Elevidys causes fatal acute liver failure in some patients.
On March 18, 2025, Sarepta announced that a patient that had been treated with Elevidys died after suffering acute liver failure. On this news, the price of Sarepta stock fell $27.81 per share, or over 27%, from $101.35 per share on March 17, 2025, to $73.54 per share on March 18, 2025. Nevertheless, on the same day, Sarepta assured investors that “the benefit-risk of ELEVIDYS remains positive.”
Next, on June 15, 2025, Sarepta announced that a second patient treated with Elevidys had died from acute liver failure. The company further announced that because of the second death, it was suspending certain shipments of Elevidys and paused dosing in an ongoing clinical trial of the treatment. On this news, the price of Sarepta stock fell $15.24 per share, or more than 42%, from $36.18 per share on June 13, 2025, to $20.94 per share on June 16, 2025.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements that conditioned investors to believe ELEVIDYS was a safe therapy that could be expanded for wider application approval. Defendants also misled investors concerning ELEVIDYS’s revenue outlook. Defendants positioned ELEVIDYS as having no hindrances to broader use, which would in turn allow for a strong growth in prescriptions.