According to the Complaint, Sarepta Therapeutics, Inc. is a commercial-stage biopharmaceutical company focused on RNA and gene therapies for the treatment of rare diseases. This lawsuit was filed against Sarepta and three of its Officers.

During the Class Period, Sarepta was engaged in the development of therapies to treat Duchenne muscular dystrophy (“Duchenne”), including ELEVIDYS. ELEVIDYS is a prescription gene therapy intended for a limited category of people with Duchenne.

The Complaint alleges that throughout the Class Period, Defendants failed to disclose material adverse facts about the Company’s compliance, operations, and outlook. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) ELEVIDYS posed significant safety risks to patients; (ii) ELEVIDYS trial regimes and protocols failed to detect severe side effects; (iii) the severity of adverse events from ELEVIDYS treatment would cause the Company to halt recruitment and dosing in ELEVIDYS trials, attract regulatory scrutiny, and create greater risk around the therapy’s present and expanded approvals; and (iv) as a result of the foregoing, Defendants materially misled with, and/or lacked a reasonable basis for, their positive statements.