As mothers of children with this disease, we have wept helplessly in recent months as friends — fellow members of a club we never asked to join — said goodbye to their sons, the babies they once held in their arms, whose dreams they held in their hearts until Duchenne robbed them of working muscles or a healthy future.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision genetic medicine for rare diseases, today issued the following statement:

The drastic cost-cutting move follows the deaths of two teenagers that forced the company to restrict usage of its gene therapy for Duchenne muscular dystrophy.

A 51-year-old man died last month after receiving an experimental treatment from Sarepta, the third death this year tied to the company's gene therapies

Investing.com -- Sarepta Therapeutics (NASDAQ: SRPT) stock soared 36% in after-hours trading Wednesday after the biotech company announced a major strategic restructuring plan designed to ensure long-term financial sustainability while focusing on high-impact programs.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) is one of the 10 Best Small-Cap Stocks to Buy According to Billionaires. On July 10, JPMorgan lowered its price target for Sarepta Therapeutics, Inc. (NASDAQ:SRPT) from $30 to $28 but kept an “Overweight” rating.

The FDA will request Sarepta Therapeutics stop all shipments of Elevidys, its gene therapy for Duchenne muscular dystrophy, following two deaths tied to the product.