Sarepta Therapeutics Inc. SRPT said Wednesday it has completed the sale of its Rare Pediatric Disease Priority Review Voucher for $102 million and will use the proceeds for R&D. Sarepta was awarded the voucher by the Food and Drug Administration after the agency granted accelerated approval of Elevidys for the treatment of ambulatory pediatric patients aged 4 through 5 years with Duchenne muscular dystrophy (DMD) with a confirmed mutation in the DMD gene. The vouchers, which aim to help and encourage the development of drugs and treatments for rare pediatric diseases, can be redeemed or sold or transferred. Sarepta’s stock has fallen 12% in the year to date, while the S&P 500 SPX has gained 16%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
0
0
