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Sarepta's woes now attributed to photo publication error

  • As it turns out, the decline in shares of Sarepta Therapeutics (SRPT -6.2%) today was likely tied to a photo publication error in an Annals of Neurology manuscript.
  • The company says it was an "inadvertent error" and will be corrected in the print version of the manuscript.
  • Here's Leerink on the subject: "We believe that the scientific integrity of SRPT's dystrophin quantification analysis is intact, but nonetheless anticipate that SRPT's dystrophin data may be deemed insufficient by FDA to support accelerated approval." (emphasis added)
  • "The axe" in SRPT (Deutsche's Robyn Karnauskas) says the slide error has no impact.
  • Earlier: Cowen note may be contributing to SRPT sell-off
Comments (4)
  • Special_Sit
    , contributor
    Comments (166) | Send Message
     
    Consensus seems to be that they will need to perform a ph 3 trial. Surprised at the reaction. But, markets will be markets, and people will sell at inopportune times. Apparently discounting SRPT's pipeline, which targets other mutations of the DMD gene.
    19 Aug 2013, 08:13 PM Reply Like
  • domitrix
    , contributor
    Comments (3) | Send Message
     
    Special- I hope you're wrong about your consensus and the phase 3 trial. It is hard to watch this play out. I agree fully with your June 19 comment. Today's activity had precious little to do with some photographs. I suspect the real reason involves the short interest of just under 42% of the float.
    Perhaps distilled down to basics, SRPT has a drug with no side effects that has altered the natural course for the better, of a small number of boys with a fatal condition. The longer it takes to make this drug available, the more boys will go into wheelchairs and decline.
    Today's drop in share price just means that SRPT is on sale. Nothing else has changed.
    19 Aug 2013, 11:47 PM Reply Like
  • Stock Reversals
    , contributor
    Comments (206) | Send Message
     
    Big insider buy filed tonight
    20 Aug 2013, 09:55 PM Reply Like
  • ahande
    , contributor
    Comments (12) | Send Message
     
    Stock Reversals,

     

    Do you mean that of the CFO's 5,000 share purchase? That was filed this afternoon during the trading day.

     

    I don't see anything bigger than that.

     

    Thanks.
    20 Aug 2013, 10:27 PM Reply Like
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