Sarepta Therapeutics' stock plummeted 5.11% during pre-market trading on Thursday, as investors reacted negatively to the company's disappointing quarterly results and unexpected leadership transition announcement.

The biopharmaceutical company reported an adjusted loss of $3.58 per share for the fourth quarter of 2025, significantly missing analyst expectations of a $1.31 loss. While sales of $442.93 million exceeded consensus estimates, they still represented a 33% year-over-year decline, primarily due to reduced revenue from its Elevidys gene therapy following a voluntary shipment pause.

Adding to investor concerns, CEO Douglas Ingram announced plans to retire by the end of 2026 or upon the appointment of his successor, creating uncertainty about the company's future leadership during a challenging period. The news follows a tumultuous year for Sarepta marked by clinical setbacks, regulatory challenges, and job cuts. Analyst firm Baird further pressured the stock by cutting its price target to $20 from $22, reflecting concerns about the company's near-term prospects.