Sarepta (SRPT) Trades Higher on Eteplirsen Phase II Update, Analyst Comments
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Sarepta Therapeutics (Nasdaq: SRPT) is trading higher Monday following a presentations by its Chief Medical Officer (CMO) at Action Duchenne, a Duchenne muscular dystrophy (DMD) event held in London this weekend.
According to reports from theStreet.com, Sarepta's Ed Kaye said that patients with DMD who were treated with eteplirsen continued to do well on therapy.
On Monday, a JMP Securities analyst commented on the Phase II study presentation: "...we learned that nNOS, an important marker in muscle cells, was reconstructed, which further validates the drug candidate. Eteplirsen is cleared unmetabolized via the kidney and shows no signs of toxicity. Moreover, the intravenous delivery seems to be associated with less severe injection site reactions than drisapersen. No patient has yet to miss an infusion which speaks to the dedication, as well as the benefit of the compound."
The analyst noted that peers GlaxoSmitKline (NYSE: GSK) and Prosensa won't release results from a Phase II for their competing DMD until the third-quarter of 2013. The duo is targeting FY13 or FY14 for FDA approval.
In terms of litigation between Sarepta and Glaxo, JMP said that there continues to be friction and Sarepta is still blocked from performing clinical studies of exon 51 in the U.K. given Glaxo's patent win in the country. Prosensa might seek legal action int he U.S. as well.
For more on data from a Phase IIb of eteplirsen, click here.
Notably, CEO Chris Garabedian will be presenting at the 2012 Lazard Capital Markets 9th Annual Healthcare Conference in New York, NY on Tuesday, November 13, 2012 at 4:30 p.m. Eastern Time.
Shares of Sarepta are up 11.7 percent Monday.
According to reports from theStreet.com, Sarepta's Ed Kaye said that patients with DMD who were treated with eteplirsen continued to do well on therapy.
On Monday, a JMP Securities analyst commented on the Phase II study presentation: "...we learned that nNOS, an important marker in muscle cells, was reconstructed, which further validates the drug candidate. Eteplirsen is cleared unmetabolized via the kidney and shows no signs of toxicity. Moreover, the intravenous delivery seems to be associated with less severe injection site reactions than drisapersen. No patient has yet to miss an infusion which speaks to the dedication, as well as the benefit of the compound."
The analyst noted that peers GlaxoSmitKline (NYSE: GSK) and Prosensa won't release results from a Phase II for their competing DMD until the third-quarter of 2013. The duo is targeting FY13 or FY14 for FDA approval.
In terms of litigation between Sarepta and Glaxo, JMP said that there continues to be friction and Sarepta is still blocked from performing clinical studies of exon 51 in the U.K. given Glaxo's patent win in the country. Prosensa might seek legal action int he U.S. as well.
For more on data from a Phase IIb of eteplirsen, click here.
Notably, CEO Chris Garabedian will be presenting at the 2012 Lazard Capital Markets 9th Annual Healthcare Conference in New York, NY on Tuesday, November 13, 2012 at 4:30 p.m. Eastern Time.
Shares of Sarepta are up 11.7 percent Monday.
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