Sarepta Soars After Positive Results In DMD Treatment Study

Sarepta Therapeutics Inc SRPT shares are trading higher by $5.75, or 14 percent, at $46.83 in Wednesday's session.

The catalyst for the rally is the announcement of positive results in its study for the treatment of Duchenne Muscular Dystrophy.

See Also: Sarepta Marks A 'Very Important Day' For The DMD Community

After a higher open, Sarepta continued in the direction before peaking at $46.99. That was followed by an orderly decline to $44.74, which was far above the top of Tuesday's session ($41.50) and embarked on another rally.

The stock has come all the way back to make a new high for the session at $47.20 as of 1:23 p.m. EST. That marks the highest level for the stock since October 25, 2016, when it peaked at $48.58.