Sarepta (NASDAQ:SRPT) has now seen a third fatal incident in its gene therapy trials due to acute liver failure. That happened last month in a limb girdle muscular dystrophy study and follows two teenage deaths in advanced Duchenne muscular dystrophy patients.

As mothers of children with this disease, we have wept helplessly in recent months as friends — fellow members of a club we never asked to join — said goodbye to their sons, the babies they once held in their arms, whose dreams they held in their hearts until Duchenne robbed them of working muscles or a healthy future.

The restructuring enacted by Sarepta Therapeutics is expected to save up to $400 million in annual costs. Read why I'm downgrading SRPT stock from Hold to Sell.

Stocks traded mixed Friday as investors focused on corporate earnings, a day after the S&P 500 and Nasdaq Composite set record closing highs.These stocks were making moves Friday:Second-quarter profit at Netflix rose 46% to $3.

CNBC's Angelica Peebles joins 'Squawk on the Street' with the latest news on Sarepta following a patient death.

Stocks on Sky High. Sarepta Therapeutics, Inc. (NASDAQ:SRPT) is one of the top-performing companies on Thursday. Sarepta Therapeutics saw its share prices rise by 19.53 percent on Thursday to close at $21.

Shares of Sarepta Therapeutics plummeted nearly 30% premarket Friday following a report that a third patient has died during a clinical trial for one of its medications.