Sarepta sells Gilead rare disease review voucher for $125M

Sarepta Therapeutics (SRPT) disclosed in a regulatory filing that it entered into an Asset Purchase Agreement with Gilead Sciences (GILD) pursuant to which the company agreed to sell its Rare Pediatric Disease Priority Review Voucher. The PRV was awarded to the company by the FDA in connection with the approval of Exondys 51 Injection for the treatment of Duchenne muscular dystrophy in patients who have a confirmed mutation of the DMD gene that is amenable to exon 51 skipping. In consideration for the PRV, Gilead will pay Sarepta $125M upon closing of the PRV purchase. Sarepta's press release on the sale this morning did not name Gilead as the buyer. Sarepta shares are up 3% to $29.00 in pre-market trading while Gilead is up 15c to $70.00.