Seeking Alpha

Baird talks Sarepta, sees FDA biopsy request as bullish

  • Baird is out with some positive commentary on Sarepta Therapeutics (SRPT +1.2%) following management meetings.
  • The FDA's request for a fourth biopsy is a "bullish signal" in Baird's view, as the firm "finds it hard to believe [the regulator] would request [an] invasive procedure unless the results would carry very substantial weight." (previous)
  • What SRPT investors do not want, according to Baird, is either "complete failure or overwhelming success" for Prosensa (RNA -0.4%) and GlaxoSmithKline's (GSK +0.1%) drisapersen (DEMAND-III top-line results are due soon), as either "would be a hard blow to the bull thesis."
  • Not to worry though (if you're an SRPT bull), Baird sees "safety issues and inconsistent pharmacological activity" for drisapersen as positive for eteplirsen.
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