Sarepta data a 'positive surprise,' says Leerink
Leerink analyst Joseph Schwartz notes that Sarepta reported positive Phase 1/2 data from the 4053-101 study for golodirsen. This data has been awaited by investors and was speculated to be presented at the World Muscle Society meeting in October, so the news is a positive surprise in terms of timing as well as content, the analyst argues. Schwartz points out that management expects to ask the FDA whether they may file for accelerated approval, and says he believes the news will reignite much debate about the quality of the data and whether it will satisfy the FDA. The analyst thinks that the potential for accelerated approval, which has not been priced into Sarepta shares at recent levels, will drive the stock significantly higher. He reiterates an Outperform rating on the shares.