Sarepta gets FDA approval for rare genetic disorder treatment

Sarepta Therapeutics Inc.
SRPT,
-3.32%
said Thursday that the Food and Drug Administration approved its Elevidys gene therapy to treat the rare genetic disorder Duchenne muscular dystrophy, or DMD. Sarepta shares rose 2% in recent activity, following a brief halt, while the S&P 500 index
SPX,
+0.28%
was up 0.2%. Back in May, the company halted its shares ahead of an FDA advisory panel, which voted in favor of accelerated approval, causing the stock to surge 30% when unhalted. The approval is contingent upon confirmatory results from a clinical trial, which the company expects out in the fourth quarter.