Sarepta, Dyne fall after Novartis muscle disorder trial failure
SRPT•Shares fall after Novartis trial setback
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.
