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Fly News Breaks for August 8, 2019
Aug 8, 2019 | 13:23 EDT
Brian Abrahams noted that Sarepta shares fell and then were halted in afternoon trading based on an emerging report from the FDA's adverse events database citing a case of rhabdomyolysis leading to hospitalization in a patient who had received the company's microdystrophin gene therapy, SRP-9001. While awaiting more information, Abrahams said he remains confident about the benefit/risk profile of the gene therapy. He pointed out that the event occurred back in early February and the trial continued "with rapid enrollment for months thereafter" and that the side effect may not have been related to the gene therapy at all. Additionally, Duchene muscular dystrophy is a risk factor for developing rhabdomyolysis, said the analyst. Given the seriousness of the underlying disease, he also believes AEs such as this would be acceptable anyway from a benefit/risk standpoint, concluded Abrahams, who has an Outperform rating on Sarepta shares.
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