Sarepta Therapeutics announced it is laying off nearly 500 employees this week, including 80 at its Easton location. According to a mass layoff notice filed with the state, biotech company Sarepta Therapeutics laid off 80 employees Friday in central Ohio.

Sarepta Therapeutics lays off 493 workers amid FDA probe, stock drop, and concerns over its gene therapy treatment, Elevidys.

The drop comes the day after the drugmaker said it would add a so-called black-box warning to its gene therapy Elevidys after two teenage boys receiving the treatment died earlier this year.

Key Takeaways Sarepta Therapeutics shares were down nearly 25% early Friday morning.The tumble followed a report that a third patient has died during a clinical trial for its Elevidys drug that treats muscular dystrophy.

Stocks on Sky High. Sarepta Therapeutics, Inc. (NASDAQ:SRPT) is one of the top-performing companies on Thursday. Sarepta Therapeutics saw its share prices rise by 19.53 percent on Thursday to close at $21.

Sarepta Therapeutics shares surged 34% in after-hours trading on Wednesday after the company said it would slash 500 jobs, or 36% of its workforce, as part of its restructuring plan. The move is expected to decrease costs by $400 million annually starting in 2026,

Sarepta's cost-saving moves, FDA surprises, and pipeline potential position SRPT as a unique opportunity. Read here for an investment analysis.