Sarepta stock surges more than 10% as results top expectations, drug given priority review

Sarepta Therapeutics Inc. SRPT shares rallied in the extended session Tuesday after the biotech drug maker topped Wall Street expectations, and said U.S. regulators granted a priority review status for its muscular dystrophy drug candidate SRP-9001. Sarepta shares rallied as much as 14% after hours, following a 3.3% rise in the regular session to close at $122.13. The company reported a fourth-quarter loss of $109.2 million, or $1.24 a share, compared with a loss of $122 million, or $1.42 a share, in the year-ago period. The adjusted loss, which excludes stock-based compensation expenses and other items, was 53 cents…