Sarepta Plunges as Clarity Sought on Muscular Dystrophy Drug (2)

Sarepta Therapeutics Inc. shares slid the most in two years after the drugmaker disclosed an unexpected regulatory step related its controversial investigative treatment for Duchenne muscular dystrophy.

The US Food and Drug Administration requested an advisory committee meeting about the drug, SRP-9001, that will take place some time before a May 29 regulatory decision date, Sarepta said Thursday in a statement. Shares of Cambridge, Massachusetts-based Sarepta fell as much as 22% at the New York market open on Friday, their biggest intraday loss since January 2021.

The FDA had earlier said it didn’t need the meeting and didn’t give ...