Sarepta preclinical hold lifted as expected, says Piper Jaffray

Piper Jaffray analyst Edward Tenthoff says that as he expected, the FDA lifted the clinical hold on Sarepta Therapeutics’ Phase I/IIa micro-dystrophin GeneRx study related to drug material supplied by a third-party. Sarepta, which recently partnered with Brammer Bio to manufacture GMP plasmid, remains on track to begin a pivotal trial by the end of 2018, Tenthoff tells investors in a research note. He believes Sarepta “has assembled a rich preclinical pipeline” of GeneRx to treat a range of rare diseases and keeps an Overweight rating on the shares with a $168 price target. The stock in premarket trading is up $2.41 to $150.00.

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