Skip to content

Why Did Orphan Drug Company Sarepta Therapeutics Make History on December 13, 2012 ?

December 13, 2012

On December 13, 2012, Sarepta Therapeutics’ CEO Chris Garabedian announces plans to offer $125 million in stock, which is the largest in the company’s history.

The stock offering will :

  1. Raise cash to fund an upcoming Phase III clinical trial for orphan drug Eteplirsen for the treatment of Duchenne Muscular Dystrophy (DMD)
  2. Convert Sarepta Therapeutics’ base of investors from approximately 35% institutional to about 50%.

Upcoming Catalysts

  1. Plans to ask for a meeting with the FDA before the end of 2012, for scheduling a meeting for the 1st Quarter of 2013 to discuss asking for Accelerated Approval for Eteplirsen and to also discuss a Phase III clinical trial for Eteplirsen
  2. Garabedian will speak to investors at the JP Morgan Healthcare Conference on January 9, 2013
  3. Investors probably will not be hearing about the results of the FDA meeting until about March – April 2013
  4. Plans are right now for a future meeting with the FDA about the chemistry, manufacturing, and controls (CMC)
  5. 74-week Eteplirsen clinical trial data.

References

Boston Business Journal December 13, 2012 article titled, “Sarepta to raise $125M in its largest-ever stock offering”

Sarepta Therapeutics December 13, 2012 News Release

TheStreet.com December 13, 2012 article titled, “Sarepta CEO: $125 Million Offering Demand was strong”

Copyright © 2012-2013, Orphan Druganaut Blog. All rights reserved.

Advertisements
Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: