Shares of Sarepta Therapeutics Inc (NASDAQ: SRPT) were trading higher by more than 3 percent on Friday, but have lost more than 60 percent after the FDA released a briefing document related to the company's eteplirsen.

Related Link: Sarepta Crashes 50% Amid Efficacy Concern Related To Eteplirsen

According to Forbes' Matthew Herper, there is "hope" for Sarepta Therapeutics, although just "a bit."

Herper continued that prior to the FDA's briefing document, he estimated a 40 percent chance the regulatory body would approve eteplirsen. Now, the odds stand at just 25 percent.

"But the argument for eteplirsen to be given accelerated approval is the same as it was before," Forbes' science and medicine pro wrote. "Unlike drisapersen, the drug does seem to produce a measureable increase in dystrophin. Yes, dystrophin levels went up to just 0.9 percent of normal, according to the FDA, but at least the protein was produced. The question is whether Sarepta and patient advocates can convince the panel that this tiny increase in dystrophin levels matters."

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