Sarepta surges on FDA's expanded use nod for company's Duchenne gene therapy

Catalent

21/06/2024 15:36

** Shares of Sarepta Therapeutics  SRPT.O  surged about 33%
to a more than three-year high in early trade 
    ** At current levels, nearly $4 bln was set to be added to
company's market value 
    ** Late on Thursday, U.S. FDA granted traditional approval
for company's gene therapy, Elevidys, for patients with
inherited progressive muscle-wasting disorder 
    ** Agency's nod allows use in kids aged four-year and above
who can walk, as well as an accelerated approval for those who
cannot
    ** Elevidys could now be given to about 13,000 patients,
nearly 90% of U.S. patients - BMO Capital Markets 
    ** Analysts from different brokerages flagged manufacturing
concerns and insurance coverage for newly added patients as
limiting factors
        ** Shares of Catalent  CTLT.N , contract manufacturer of
Elevidys for SRPT, rise 3.3% to $56.60
  
    ** Thermo Fisher Scientific  TMO.N , earlier added as a
secondary manufacturer for SRPT's therapy, up 1.6% at $565.82
    ** Including session's gain,     company stock up more than
68% YTD 

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))