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Fly News Breaks for July 20, 2016
SRPT
Jul 20, 2016 | 05:55 EDT
Sarepta Therapeutics ended Q2 with $134.7M in cash with an unsustainable burn rate, Piper Jaffray analyst Edward Tenthoff tells investors in a post-earnings research note. He projects the company will run out of cash by the end of 2016. Sarepta did not schedule a conference call and did not provide an update on the timing of submission of additional dystrophin expression data, the analyst notes. Tenthoff keeps a Neutral rating on Sarepta with a $17 price target following the company's Q2 results. The shares closed yesterday up 19c to $21.14.
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