Sarepta CEO Doug Ingram buys $2M batch of his biotech's stock; Express Scripts exploring exclusive gene therapy deals
→ Sarepta’s shares $SRPT have climbed fast since Doug Ingram stepped in as CEO and had a chance to do some deals and reap the benefits of a promising early-stage gene therapy program. As we’ve noted before, Ingram has a rich pay package tied to the performance of the company’s stock. And he’s demonstrating some personal confidence by adding $2 million worth of shares in the biotech to his portfolio. The stock purchase was outlined in an SEC filing, which has had some prominent distribution this morning on Twitter.
→ After a Phase II failure forced Summit Therapeutics to scrap its Duchenne muscular dystrophy and decimated its stock $SMMT, Summit is hunkering down on its treatment for C. difficile infection. The Oxford-based biotech, which now calls itself “a leader in antibiotic innovation,” announced that it’s received $12 million from BARDA as the first option award in a deal that could give them a total of $62 million. This award, following the $32 million base payment, will fund a Phase III program for ridinilazole expected to begin early 2019.
→ Express Scripts has reportedly been setting up a new business aimed at distributing pricey gene therapies. They’re looking for exclusive relationships with Spark, BioMarin and bluebird bio, which have all been focused on new development programs.
→ RXi Pharmaceuticals $RXII has forged a research collaboration with the Karolinska Institutet, exploring their sd-rxRNA compounds against targets involved in T cell and NK cell differentiation as well as the immune cell tumor-induced stress response.