Sarepta slips after new CSO is quickly pushed out

So what happened to Sarepta's ($SRPT) new chief scientific officer? Hired just 7 months ago, the biotech issued a one-liner in an 8-K this morning stating simply that Art Krieg had been "terminated." No nice farewell or mention of new opportunities. Rumors began to fly quickly, via social media. Adam Feuerstein at TheStreet, a bullish proponent of all things related to Sarepta's lead drug eteplirsen, quoted a couple of sources saying that Krieg had disappointed the company on his primary mission: quickly moving some new programs into the clinic. But nothing has been confirmed. Sarepta's shares had shed about 4% by mid-morning, a sign that investors were at least a little rattled by the news. Eteplirsen is one of three drugs looking for an accelerated approval to treat Duchenne muscular dystrophy. 8-K