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Fly News Breaks for January 23, 2020
Jan 23, 2020 | 05:57 EDT
SVB Leerink analyst Joseph Schwartz attributes the selloff yesterday in shares of Sarepta Therapeutics following the FDA's release of the since approved Vyondys53 Complete Response Letter to investor concern on read-through to casimersen approval and a possible "dent" in the company's relationship with the agency that may have long-term repercussions. However, upon review of the letter and in light of the eventual approval of golodirsen, the analyst believes that repercussions, if any, "appear limited." The FDA's acquiescing on eteplirsen and golodirsen bodes well for casimersen, Schwartz tells investors in a research note. He continues to see eteplirsen as a precedent for exon skippers and keeps an Outperform rating on shares of Sarepta.