Final Patent Interference Decision Favors Sarepta Therapeutics (SRPT) - Baird
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Baird analyst, Brian Skorney, reiterated his Outperform rating on shares of Sarepta Therapeutic (NASDAQ: SRPT) after PTAB issued a decision on patent interference handing Sarepta its second win in two days. Though the decisions can be appealed, it looks like Sarepta may avoid paying royalties to BMRN in the U.S.
BioMarin and Sarepta were locked in three separate interference battles. Two had already been ruled on, with the methods of use interference favoring BioMarin and the composition of matter interference in exon-53 skipping favoring Sarepta. Both are currently in appeals. The final interference related to composition of matter in exon-51 skipping (106,008) was ruled on yesterday, and favored Sarepta.
No change to the price target of $102.
Shares of Sarepta Therapeutic closed at $55.73 yesterday.
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