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Fly News Breaks for January 15, 2016
SRPT
Jan 15, 2016 | 15:07 EDT
Needham analyst Chad Messer acknowledges that the language in the FDA authored section of the eteplirsen advisory committee meeting documents is "frank and skeptical" and investor consensus now appears to expect the drug will be denied approval. However, it is still possible that the FDA may be appearing "as critical as possible" before approving eteplirsen to limit the potential consequences of a perceived lower bar for approval, the analyst said, though he admits he "lacks high conviction" in that scenario. Studies that could be the basis for a full approval are underway, which could lead to another FDA submission next year for the drug, said Messer, who keeps a Buy rating and $55 price target on Sarepta shares.
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