Sarepta data bode well for registration study, says H.C. Wainwright
The functional gains with Sarepta Therapeutics' SRP-9001 in this morning's data bode well for the registration study, H.C. Wainwright analyst Debjit Chattopadhyay tells investors in a research note. Micro-dystrophin gene therapy appears to positively impact key functional endpoints with a 34% increase in NSAA scores, and a -20%, -29%, and -13% change in time to rise, four-minute stair climb, and time to 100 meters, respectively from baseline to day 270, says the analyst. While bears are likely to point to the large variability in CK, a 64% decline from baseline, while not quite the 90%-plus at an earlier time point, for a measurement that is uniquely susceptible to activity is more an attribute of increased functional capacity as opposed to waning of gene therapy's effectiveness hypothesis in the younger patients, contends Chattopadhyay. He has a Buy rating on Sarepta with a $267 price target.