Sarepta (SRPT) Wins Key PTO Decision on Composition of Matter Patents - Oppenheimer

September 20, 2016 1:18 PM EDT
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Price: $32.66 -4.59%

Rating Summary:
    17 Buy, 10 Hold, 1 Sell

Rating Trend: = Flat

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Oppenheimer analyst Michelle Gilson notes US Patent and Trademark Office ruled in favor of Sarepta (NASDAQ: SRPT) for Patents 7,960,541 and 7,807,816 in its patent interference proceeding (interference number 106,008).

Gilson notes these cover composition of matter for eteplirsen, giving the Sarepta freedom to operate and IP in commercialization of eteplirsen in the US. Additionally, it complicates enforcement of last year's "method of use" ruling in favor of BioMarin (note here). The decision is subject to appeal.

The firm Outperform price target of $76.00

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 $48.94 yesterday.

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