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

Sarepta Therapeutics said on Wednesday it would lay off 36% of its workforce, or about 500 employees, after the recent deaths of two patients who had received its gene therapy Elevidys.

The gene-therapy company is restructuring, laying off 36% of its workforce and making changes to its executive team.

The commercial and clinical use of Elevidys was discontinued after two fatal cases of acute liver failure.

Sarepta Therapeutics said a second patient had died after receiving its $3.2 million gene therapy to treat Duchenne muscular dystrophy.

Sarepta Therapeutics said on Wednesday it would lay off 36% of its workforce, or about 500 employees, after two recent deaths of patients who had received its gene therapy, Elevidys. Shares of the ...