Sarepta Therapeutics defended after gene therapy data sends shares lower

 

• Wall Street firms update on Sarepta Therapeutics (SRPT -6.0%) after the company's initial data from its SRP-5051 gene therapy showed an improvement in exon skipping over the company's first generation technology, but is still seen falling short of some expectations.
• Credit Suisse: "Overall, we consider this to be an encouraging start for the drug and note that optionality for the program is preserved given the clean safety profile to date; at this time, we cannot conclude there is a meaningful advance beyond Exondys, though, and it is unclear whether dose levels can be achieved that are likely to confer a meaningful functional benefit. While the drug appears safe so far, we await 30mg/kg results expected in Q2 2021 to begin to address these questions."
• Mizuho called today's share price drop unwarranted and SVB Leerink says investor eyes remain fixated on 102’s readout in Q1, despite the early data that were presented this morning.
• Read Sarepta's full clinical trial update.
• https://seekingalpha.com/news/3642199-sarepta-therapeutics-defended-after-gene-therapy-data-sends-shares-lower