Sarepta, Dyne fall after Novartis muscle disorder trial failure
BUZZ-Sarepta, Dyne fall after Novartis muscle disorder trial failure Updates
** Shares of companies developing drugs for a muscle-wasting disorder tumble after Novartis NOVN.S says its treatment failed the main goal of video hand-opening time, a measure of hand myotonia, in a late-stage trial
** Sarepta Therapeutics SRPT.O down 8.8% at $20.55, Dyne Therapeutics DYN.O drops 22.3% to $18.88, biggest one-day drop since January 2025
** U.S.-listed shares of Novartis were down 12.7% at $139.68
** "The NVS failure makes Dyne's own trial much more risky. SRPT's drug is earlier stage, but the same goes there," says Cantor Fitzgerald analyst Eric Schmidt
** "For DYN, while the clinical risk here does go up, the upside potential for the stock goes up too, DYN now has a chance at being first-to-market in DM1," Stifel says
** Including session moves, SRPT down 7.9%, DYN down 3.9% YTD
(Reporting by Sneha S K and Sriparna Roy)
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