Sarep­ta shares sink on the back of a mon­ster $500M raise

Re­mem­ber when Janet Wood­cock de­cid­ed to push through a con­tro­ver­sial FDA ap­proval for Duchenne MD drug eteplirsen in part be­cause of her fears that the com­pa­ny might have been too fi­nan­cial­ly weak to sur­vive a re­jec­tion?

Any re­main­ing con­cerns on that score can now be set aside.

Shares of Sarep­ta $SRPT were bad­ly dinged Thurs­day as the biotech lined up a whop­ping $500 mil­lion raise. The biotech priced the of­fer­ing of 3.8 mil­lion shares at $131 each, adding to the com­pa­ny’s re­serves as Sarep­ta pur­sues a range of new de­vel­op­ment ef­forts for Duchenne mus­cu­lar dy­s­tro­phy.

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