Sarepta (NASDAQ:SRPT) is a popular stock in the Fool community, but its inestors have had a tough run lately, watching shares lose half of their value in the past six months. A late-stage trial failure by a competing drug from GlaxoSmithKline and Prosensa potentially squashed Sarepta's chance for an accelerated approval. Or did it?

Sarepta's management recently met with the FDA to discuss the path forward for eteplirsen. Mothers of boys effected by Duchenne muscular dystrophy are filing a petition, but the small size of the phase 2 trial may not be enough to sway the federal regulators.

On this edition of Market Checkup, Motley Fool health-care analysts David Williamson and Michael Douglass discuss the possible outcomes for Sarepta, what could affect the FDA's decision-making, and how this catalyst could affect the stock.

David Williamson, Michael Douglass, and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.