Sarepta beats the workforce after the death of patients in gene therapy (SRPT)

Sarepta Therapeutics Inc. cuts more than a third of his workforce and will add a black box war label for his gene therapy for a deadly muscle disorder after two deaths of patients had raised doubts about the future of the company.

The biotech company based in Cambridge, Massachusetts, said on Wednesday that it would eliminate around 500 employees as part of a comprehensive restructuring. It also pauses several drugs in its pipeline. Sarepta said that the movements would contribute to an estimated 400 million US dollar in annual cost savings.