Why These 10 Firms Nosedived Today

2. Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Sarepta Therapeutics nosedived by 21.45 percent on Wednesday to end at $36.72 apiece after reporting a disappointing earnings performance in the first quarter of the year.

During the period, the company swung to a net loss of $447.5 million from a $36.1 million net income in the same period last year, despite revenues jumping by 80 percent to $744.9 million from $413.5 million year-on-year, with the increase primarily driven by a $241-million higher net product revenue from Elevidys—a gene therapy for Duchenne muscular dystrophy (DMD)—as a result of its expanded label approval in June 2024.

Looking ahead, Sarepta Therapeutics, Inc. (NASDAQ:SRPT) said it expects lower revenues for full-year 2025, at $2.3 billion to $2.6 billion versus the $2.9 billion to $3.1 billion as expected previously.

Earlier this year, Sarepta Therapeutics, Inc. (NASDAQ:SRPT) reported that a young patient succumbed to acute liver failure after receiving the Sarepta Elevidys therapy. While the risk has already been flagged on the Elevidys label, acute liver injuries leading to death have not been previously reported in clinical testing or real-world use of Elevidys.