Layoffs and key therapies kept in the market to boost investor confidence! Biotechnology company Sarepta (SRPT.US) surged after hours.

According to the Wisdom Financial News app, biotechnology company Sarepta Therapeutics (SRPT.US) saw a huge increase of over 35% in after-hours trading on Wednesday. The increase even reached close to 60%. The reason for this is that the company announced a workforce reduction of over one-third and confirmed that its gene therapy for treating a deadly muscle disease will continue to be marketed with an additional warning about the risk of liver failure.