Sarepta's (SRPT) Eteplirsen Can Still Get Breakthrough for DMD, Deutsche Bank Says (GSK)

June 27, 2013 12:29 PM EDT
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Deutsche Bank is out with futher commentary on Sarepta Therapeutics (Nasdaq: SRPT) following an earlier update on Glaxo's (NYSE: GSK) Drisapersen getting FDA breakthrough status. Drisapersen is an expected competitor to Sarepta drug candidate Eteplirsen in Duchenne muscular dystrophy (DMD).

Deutsche thinks Eteplirsen will also be able to get breakthrough status, as DMD is a serious disease. The firm notes that, "if granted, such a designation might be at risk later on when Drisapersen comes to markets."

Dutsche commented that the designation can be withdrawn if "1) benefits in a larger study are substantially lower than initial studies OR 2) another drug in same indication gains approval. In the second case, the sponsor can still retain the designation if it provides evidence that the drug may show substantial benefit over newly approved drug on safety/efficacy."

In either event, Deutsche sees limited impact to DCF due to such a delay.

Deutsche has Sarepta at Buy with a $45 price target.

For an analyst ratings summary and ratings history on Sarepta Therapeutic click here. For more ratings news on Sarepta Therapeutic click here.

Shares of Sarepta Therapeutic closed at $39.73 yesterday.

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