The Sarepta Therapeutics Inc (NASDAQ:SRPT) stock has been in the middle of a strong move for a week and during the period, it has managed to record gains of 20%.
There has been no news about the company over the past week, but back on May 3 the company announced positive clinical results from the Phase 2 MOMENTUM study of its product SRP 5051. The product is an advanced peptide phosphorodiamidate morpholino oligomer (PPMO) and is meant for treating patients who may be suffering from Duchenne muscular dystrophy.
The results from the Phase 2 study suggest that SRP 5051 could prove to be a highly potent treatment for the condition. It demonstrated greater efficacy and on top of that patients might not even require frequent doses. That is a significant development and might have been the reason behind the current optimism around the stock. Investors could consider keeping track of all the latest news regarding the development of this product from Sarepta.