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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