Shares of Prosensa (NASDAQ: RNA ) , a biotech company developing the drug drisapersen for the treatment of Duchenne muscular dystrophy, or DMD), plunged 70% today after the company revealed that the drug failed to reach its goal in a late-stage clinical trial. The market valuation for Prosensa, which went public over the summer, plummeted on this news, while shares of its partner GlaxoSmithKline (NYSE: GSK ) were not affected. Shares of its rival Sarepta (NASDAQ: SRPT ) , however, have fluctuated throughout the day. Opinions differ on how this will affect the road to approval for Sarepta's eteplirsen, a competing experimental DMD medication. Analyst Max Macaluso discusses this news and its impact on all three players in the following video.
9 rock-solid dividend stocks
Taking a break from the volatile biotech sector? Looking for ways to diversify into dividend-paying stocks? The Motley Fool's special report "Secure Your Future With 9 Rock-Solid Dividend Stocks" is a great way to kick-start your search. Just click here to get your free copy today.
Editor's note: At the time of this video, shares of Sarepta were up only 2%. The stock is now up 17% intraday.