Sarepta, other biotech stocks tumble as FDA appoints new CBER director
Investing.com -- Shares of several biotech companies experienced significant declines in Tuesday’s trading session following the announcement of Dr. Vinay Prasad as the new director of the Center for Biologics Evaluation and Research (CBER) at the FDA. Modernal stock fell 12%, Sarepta Therapeutics (NASDAQ:SRPT) shares dropped 25%, Capricor Therapeutics (NASDAQ:CAPR) plummeted 24%, and Arcellx declined by 16%.