Sarepta Therapeutics announced it has laid off more than one-third of its workforce, a drastic cost-cutting move following the deaths of two teenagers administered its gene therapy for Duchenne muscular dystrophy.

On a conference call, CEO Doug Ingram said the decision to cut 36% of the company's staff and halt several drug programs was essential to ensuring Sarepta's "long-term viability."

A filing with the state details the Columbus job cuts for a biotech cutting more than one-third of its workforce.

Sarepta Therapeutics is laying off 500 staffers, or 36% of its workforce, as part of a strategic restructuring aiming to save $400 million annually. | Sarepta Therapeutics has laid off 500 staffers, or 36% of its workforce,

British biopharmaceutical company GlaxoSmithKline will lay off 150 employees in its Cambridge operations by the end of March 2026, the company said in a notice to the state.

The favorable market reaction indicates investor relief at management’s swift measures to rectify the company's worsening financial situation.

Sarepta Therapeutics announced a layoff of 493 employees, including 80 in Franklin County, amid restructuring efforts and criticism from the FDA.

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

Massachusetts-based Sarepta Therapeutics, facing scrutiny from regulators, is reducing its global workforce by 36% in an effort to cut annual operating costs by hundreds of millions of dollars.