Out of limbo, Sarepta is raising $225M and taking bids on a priority voucher as it revs up marketing
After sitting in regulatory limbo for most of the year, Sarepta execs have a long to-do list in hand as they roll out their Duchenne muscular dystrophy drug, and not much time to do it. But they should have plenty of cash for the next step.
The biotech filed to sell $225 million in stock $SRPT after the market closed on Wednesday. The FDA decision to provide eteplirsen with an accelerated approval on thin data ignited a monster rally for Sarepta’s shares, giving the company a $2.7 billion market cap to play with. And it’s also auctioning off a priority review voucher that could easily bring in more than the latest stock offering.
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