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SRPT

Sarepta

$60.95

-0.46 (-0.75%)

, SMMT

Summit Therapeutics

$8.65

-0.414 (-4.57%)

07:08
10/04/16
10/04
07:08
10/04/16
07:08

Sarepta, Summit enter into exclusive license, collaboration agreement

Sarepta Therapeutics (SRPT) and Summit Therapeutics (SMMT) announced that they have entered into an exclusive license and collaboration agreement granting Sarepta rights in Europe, as well as in Turkey and the Commonwealth of Independent States, to Summit's utrophin modulator pipeline, including its lead clinical candidate, ezutromid, for the treatment of Duchenne muscular dystrophy, or DMD. As part of the agreement, Sarepta also obtains an option to license Latin American rights to Summit's utrophin modulator pipeline. Summit retains commercialization rights in all other countries. Utrophin modulation is a potential disease-modifying treatment for all patients with the fatal muscle wasting disease DMD, regardless of their underlying dystrophin gene mutation. Ezutromid is currently in a Phase 2 proof of concept trial called PhaseOut DMD. Under the terms of the agreement, Summit will receive an upfront fee of $40M. In addition, Summit will be eligible for future ezutromid related development, regulatory and sales milestone payments totalling up to $522M, including a $22M milestone upon the first dosing of the last patient in Summit's PhaseOut DMD trial, and escalating royalties ranging from a low to high teens percentage of net sales in the licensed territory.

SRPT

Sarepta

$60.95

-0.46 (-0.75%)

SMMT

Summit Therapeutics

$8.65

-0.414 (-4.57%)

  • 06

    Nov

SRPT Sarepta
$60.95

-0.46 (-0.75%)

09/21/16
LEER
09/21/16
NO CHANGE
LEER
Market Perform
Previous PTAB ruling remains overhang on Sarepta eteplirsen, says Leerink
Leerink analyst Joseph Schwartz notes that Sarepta (SRPT) has announced favorable Patent Trial and Appeal Board of the U.S. Patent and Trademark Office decisions in favor of its exon 51 and 53 composition of matter patent interference cases against BioMarin (BMRN). However, he points out that these rulings are subject to appeal and a previous ruling from the U.S. Patent Trial and Appeal Board, or PTAB, in favor of BioMarin's method of use patent remains an overhang on the commercialization of Sarepta's eteplirsen. The analyst reiterates a Market Perform rating on Sarepta's shares.
09/23/16
PIPR
09/23/16
NO CHANGE
Target $64
PIPR
Overweight
Sarepta stock issuance strengthens balance sheet, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff says Sarepta Therapeutics has a strengthened balance sheet after issuing 5.02M shares at a price of $59.75. Further, for its Exondys51 approval, Sarepta gained a Rare Priority Review Voucher that could be sold to further pad the company's cash position, Tenthoff tells investors in an intraday research note. He reiterates an Overweight rating on the shares with a $64 price target. The stock is down 5% to $57.74 in late afternoon trading.
09/28/16
09/28/16
NO CHANGE

Experts 'fairly upbeat' on Sarepta drug, says RBC Capital
After speaking with three neurologists who treat DMD, RBC Capital analyst Simos Simeonidis says that the doctors were "fairly bullish" on Sarepta's DMD treatment, EXONDYS 51. The doctors expect to use the drug "in essentially all eligible patients," according to the analyst. Simeonidis raised the price target on Sarepta to $108 from $83 and keeps an Outperform rating on the stock.
09/28/16
JMPS
09/28/16
NO CHANGE
JMPS
Street underestimating price of Sarepta drug, says JMP Securities
JMP Securities analyst Liisa Bayko expects the price of Sarepta's Exondys 51 drug will be above the company's projected annual net price of $300,000. She thinks that the price will come in "closer to $538,000 per year on a gross basis, $457,000 net of discounts and compliance." The analyst raised her price target on the shares to $90 from $60 and keeps an Outperform rating on the stock.
SMMT Summit Therapeutics
$8.65

-0.414 (-4.57%)

02/01/16
ADAM
02/01/16
INITIATION
Target $14
ADAM
Buy
Summit Therapeutics initiated with a Buy at Canaccord
Target $14.
02/01/16
02/01/16
INITIATION

On The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Acadia (ACHC) initiated with an Overweight at KeyBanc... Altisource Residential (RESI) initiated with a Neutral at Nomura... Colony Starwood Homes (SFR) initiated with a Buy at Nomura... EyeGate (EYEG) initiated with a Buy at Rodman & Renshaw... Fortinet (FTNT) initiated with an Outperform at Northland... Halozyme (HALO) initiated with a Buy at Canaccord... Lendingtree (TREE) initiated with an Outperform at Northland... Lindblad Expeditions (LIND) initiated with an Outperform at Credit Suisse... Summit Therapeutics (SMMT) initiated with a Buy at Canaccord... VolitionRx (VNRX) initiated with a Buy at Rodman & Renshaw.
06/21/16
JANY
06/21/16
INITIATION
Target $15
JANY
Buy
Summit Therapeutics initiated with a Buy at Janney Capital
Janney Capital analyst Debjit Chattopadhyay started coverage of Summit Therapeutics with a Buy rating and $15 fair value estimate as he believes the company's pre-clinical data has been compelling and that two upcoming data reads should clarify its outlook and provide a catalyst for the stock.
09/16/16
HCWC
09/16/16
INITIATION
Target $26
HCWC
Buy
Summit Therapeutics initiated with a Buy at H.C. Wainwright
H.C. Wainwright analyst Carol Ann Werther initiated Summit Therapeutics with a Buy and a $26 price target saying Ezutromid in DMD can potentially generate $1.2B in global sales in FY26.

TODAY'S FREE FLY STORIES

IWM

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UPS

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  • 07

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SYY

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$50.37

-2.41 (-4.57%)

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  • 23

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DDAIF

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, PCAR

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SBUX

Starbucks

$59.51

-0.45 (-0.75%)

09:50
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  • 23

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Treasury Option Action: 10-year positioning »

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MITL

Mitel

$7.32

0.08 (1.11%)

09:49
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  • 27

    Jun

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WHR

Whirlpool

$192.96

-2.2 (-1.13%)

09:48
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SFM

Sprouts Farmers Market

$21.55

0.17 (0.80%)

09:47
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09:45
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GPMT

Granite Point Mortgage

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Syndicate
Breaking Syndicate news story on Granite Point Mortgage »

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  • 23

    Jun

GPMT

Granite Point Mortgage

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  • 23

    Jun

MDSO

Medidata

$80.25

4.25 (5.59%)

09:42
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  • 27

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LPI

Laredo Petroleum

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  • 27

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GPMT

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  • 23

    Jun

LGF.A

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  • 27

    Jun

NGD

New Gold

, GILD

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TWTR

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  • 28

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STML

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$8.50

0.15 (1.80%)

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  • 23

    Jun

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    Sep

LGF

Use LGF.A, LGF.B

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  • 27

    Jun

INN

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09:38
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Summit Hotel Properties management to meet with Canaccord »

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  • 27

    Jun

  • 13

    Jul

IMGN

ImmunoGen

$5.82

-0.2 (-3.32%)

09:38
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ImmunoGen management to meet with Jefferies »

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  • 27

    Jun

  • 28

    Jun

REGN

Regeneron

$526.53

4.51 (0.86%)

09:36
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Breaking Hot Stocks news story on Regeneron »

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