Sarepta shares suffer amid confusion at adverse event report

The self-styled leader in precision genetic medicine for rare diseases suffered a bad turn in the stock market on Thursday.

Sarepta Therapeutics (Nasdaq: SRPT) closed 6.5% down, having recovered from more dramatic earlier losses by submitting a statement attempting to clear up confusion surrounding a submission to the US Food and Drug Administration’s adverse event reporting system (FAERs), a post-marketing surveillance database for approved therapies.

The US biotech company said on Thursday that its investigation to date indicates that this report was not submitted to the FAERs database by a Sarepta employee or the study’s principal investigator.