Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Sarepta sells Priority Review Voucher for US$125mln

Tuesday, February 21, 2017 6:35
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Sarepta Therapeutics Inc (NASDAQ:SRPT) was wanted in pre-market trading after it announced the sale of what’s known as a Priority Review Voucher (PRV) for US$125mln.

It has entered into an agreement to sell the Rare Paediatric Disease PRV it received when EXONDYS 51TM was approved by the US Food and Drug Administration (FDA) for the treatment of patients with Duchenne muscular dystrophy amenable to exon 51 skipping.

The PRV program is intended to encourage development of new drug and biological products for prevention and treatment of certain rare paediatric diseases. A PRV entitles the holder to a priority review of a single New Drug Application or Biologics License Application, which reduces the target review time and could lead to an expedited approval.

Sarepta will receive an advance payment of US$125mln upon the closing of the transaction, which is subject to customary closing conditions and is expected to occur following expiration of the applicable US antitrust clearance requirements.

“Our mission at Sarepta Therapeutics is to treat more boys with Duchenne muscular dystrophy,” said Edward Kaye, Sarepta’s chief executive officer.

“The sale of the PRV provides an important source of non-dilutive capital to support the rapid advancement of our follow on exon skipping candidates and next generation RNA targeted antisense platform,” he added.

Sarepta shares were up 2.6% at US$29 in pre-market trading.

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/173466/sarepta-sells-priority-review-voucher-for-us125mln-173466.html

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories
 

Featured

 

Top Global

 

Top Alternative

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.