Sarepta Therapeutics Inc Stock Price, News & Analysis

Sarepta Therapeutics (NASDAQ:SRPT) reported a 23% increase in third-quarter 2020 net product sales, totaling $121.4 million, compared to $99.0 million in Q3 2019. Despite challenges from the pandemic, the company advanced its pipeline, with FDA acceptance of the NDA for casimersen and positive data from gene therapy trials, including SRP-9001 and SRP-9003. However, Sarepta reported a net loss of $196.5 million for the quarter. The company's cash reserves increased to $1.8 billion due to strategic financing activities.

Sarepta Therapeutics (NASDAQ:SRPT) announced plans to commence dosing with commercial-process material for SRP-9001, an investigational gene therapy for Duchenne muscular dystrophy, before the end of 2020. Following discussions with the U.S. FDA's OTAT, Sarepta aims to expedite a new clinical study (Study 103) focused on safety and expression in up to 10 patients. The company also anticipates a data read-out from an ongoing trial (Study 102) in early 2021. This progress is crucial for advancing treatment options for patients suffering from this rare disease.

Sarepta Therapeutics (NASDAQ:SRPT) is set to participate in the 29th Annual Credit Suisse Virtual Healthcare Conference on November 9, 2020, at 3:30 p.m. E.T. Senior management will engage in a fireside chat, which will be available via live webcast on the company's investor relations page. The presentation will be archived for 90 days post-event. Sarepta focuses on precision genetic medicine, particularly in Duchenne muscular dystrophy and gene therapies for various rare diseases, boasting over 40 programs under development.

Sarepta Therapeutics (NASDAQ:SRPT) announced the grant of equity awards on October 30, 2020, to 12 new employees as part of its 2014 Employment Commencement Incentive Plan. In total, the employees received options to purchase 20,835 shares and 8,385 restricted stock units (RSUs). The options have an exercise price of $135.91 per share, equal to the closing price on the grant date. Options vest over four years, while RSUs vest annually, contingent upon continued employment.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) will announce its third quarter 2020 financial results on November 5, 2020, after market close. A conference call will follow at 4:30 p.m. E.T. to discuss results and provide a corporate update. The call can be accessed by dialing specific numbers for domestic and international callers, and will also be available via webcast. Sarepta continues to make advancements in precision genetic medicine, focusing on therapies for rare diseases such as Duchenne muscular dystrophy and various gene therapies.

AavantiBio, a new gene therapy company, has secured $107 million in Series A financing led by notable life sciences investors, including Sarepta Therapeutics (NASDAQ: SRPT), which contributed $15 million. The company, co-founded by experts Barry Byrne and Manuela Corti, will focus on developing therapies for Friedreich's Ataxia, a rare genetic disorder affecting the nervous system and heart. Bo Cumbo, formerly Sarepta's CCO, has been appointed CEO. AavantiBio aims to leverage its connections with the University of Florida’s Powell Gene Therapy Center to enhance its research capabilities.

Sarepta Therapeutics (NASDAQ: SRPT) announced the 21 recipients of Route 79, The Duchenne Scholarship Program, aiding students with Duchenne muscular dystrophy in pursuing higher education. Each recipient receives up to $5,000, showcasing their community involvement and personal achievements. This is the third year of the program, reflecting Sarepta's commitment to supporting the Duchenne community, especially amid challenges posed by COVID-19. The selection process is overseen by an independent committee to ensure fairness and anonymity in evaluating applicants.

Sarepta Therapeutics (NASDAQ: SRPT) announced the completion of a Type C meeting with the FDA's OTAT regarding the clinical trial for SRP-9001, a gene transfer therapy for Duchenne muscular dystrophy (DMD). The FDA requested additional potency assays for the commercial process material prior to the clinical study. Sarepta believes it has existing data that may satisfy this request but needs further discussions with the FDA to confirm.

The company remains committed to advancing SRP-9001, which is designed to deliver a micro-dystrophin-encoding gene to muscle tissue, with potential transformative effects for DMD patients.

Sarepta Therapeutics (NASDAQ:SRPT) announced the granting of equity awards to 20 new employees on August 31, 2020, in accordance with its 2014 Employment Commencement Incentive Plan. The awards include options for 17,310 shares and 6,655 restricted stock units (RSUs). The options have an exercise price of $146.42 per share, matching the closing stock price on the grant date. Vesting for options occurs quarterly over four years, while RSUs vest annually over the same period, contingent on continued employment.