Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Files An 8-K Entry into a Material Definitive Agreement
Item1.01 Entry into a Material Definitive Agreement.
On February20, 2017, Sarepta Therapeutics Inc. (the Company)
entered into an Asset Purchase Agreement (the Agreement) with
Gilead Sciences, Inc. (Gilead) to which the Company agreed to
sell its Rare Pediatric Disease Priority Review Voucher (PRV).
The PRV was awarded to the Company by the U.S. Food and Drug
Administration in connection with the approval of Exondys51
(eteplirsen) Injection for the treatment of Duchenne muscular
dystrophy in patients who have a confirmed mutation of the DMD
gene that is amenable to exon 51 skipping. In consideration for
the PRV, Gilead will pay the Company $125,000,000 upon closing of
the PRV purchase. Closing of the PRV purchase is subject to
customary conditions, including the expiration or termination of
the required waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976. The Agreement contains customary
representations, warranties and covenants.
The foregoing summary of the Agreement is qualified in its
entirety by the full text of the Agreement, a copy of which will
be filed as an exhibit, with certain portions subject to
confidential treatment request, to the Companys Quarterly Report
on Form10-Q for the quarter ended March31, 2017, and incorporated
herein by reference.
On February21, 2017, the Company also issued a press release
announcing its entry into the Agreement. A copy of the press
release is filed as Exhibit99.1 to this Current Report on Form8-K
and is incorporated by reference into this Item1.01.
Item9.01 Financial Statements and Exhibits.
Press Release dated February21, 2017 titled Sarepta
Therapeutics Agrees to Sale of Priority Review Voucher for
About Sarepta Therapeutics, Inc. (NASDAQ:SRPT)
Sarepta Therapeutics, Inc. is a biopharmaceutical company. The Company is focused on the discovery and development of ribonucleic acid (RNA)-targeted therapeutics for the treatment of rare, infectious and other diseases. The Company operates in one segment: the development of pharmaceutical products on its own behalf or in collaboration with others. The Company, through its platform technologies, targets a range of diseases and disorders through RNA-targeted mechanisms of action. The Company is also developing therapeutics using its technology for the treatment of drug-resistant bacteria and infectious, rare and other human diseases. The Company’s lead Duchenne Muscular Dystrophy (DMD) product candidate, Eteplirsen, is an antisense phosphorodiamidate morpholino oligomer (PMO) therapeutic in Phase III clinical development for the treatment of individuals with DMD having an error in the gene coding for dystrophin that is amenable to skipping exon 51. Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Recent Trading Information
Sarepta Therapeutics, Inc. (NASDAQ:SRPT) closed its last trading session up +0.31 at 28.28 with 1,406,684 shares trading hands.
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