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Fly News Breaks for April 21, 2016
SRPT
Apr 21, 2016 | 12:28 EDT
William Blair analyst Tim Lugo downgraded Sarepta Therapeutics to Market Perform from Outperform saying today's FDA briefing documents reinforce the agency's view that eteplirsen is yet to show efficacy. The analyst believes that while patient advocacy could be a "swing factor" at the panel meeting, a Complete Response Letter for the drug is likely until placebo-controlled data becomes available. Sarepta shares are down 46%, or $9.11, to $10.60.
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