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Fly News Breaks for June 7, 2016
SRPT
Jun 7, 2016 | 07:37 EDT
Oppenheimer analyst Christopher Marai says the FDA has requested dystrophin data from ongoing PROMOVI confirmatory trial of Sarepta's eteplirsen, prior to making an approval decision. Marai sees the request as positive, suggesting that FDA is convinced accelerated approval can be supported by dystrophin production, and even small amounts of dystrophin can be "reasonably expected" to result in clinical benefit. The analyst anticipates accelerated approval in the next 3 months and recommends buying Sarepta's stock on this news. He reiterates an Outperform rating and $60 price target on the shares.
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