Market Insider

Sarepta shares leap 90% after FDA approves drug

Jian Wan | Vetta | Getty Images

Shares of Sarepta Therapeutics briefly surged more than 90 percent Monday after the Food and Drug Administration approved the company's muscular dystrophy drug eteplirsen.

The drug is the first approved to treat patients with Duchenne muscular dystrophy, a rare, genetic muscle-wasting disease, and was given accelerated approval, the FDA said.

Earlier, the stock climbed about 11 percent before trading was temporarily halted. It closed Monday's session up nearly 74 percent.

Recently, the stock changed hands up 60 percent, or a 21 percent gain for the year so far.

Sarepta shares five-day performance

Source: FactSet

Sarepta interim CEO Edward Kaye will be on CNBC's "," starting at 5 p.m., ET.