Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
why are we moving so much today? what am i missing? anyone
Wave Systems raises 1M in a private placement
Wave Systems announced that it has entered into agreements with certain institutional investors for a private placement of 1,204,820 shares of its Class A common stock at a price of 83c per share, yielding gross proceeds of $1M. Dawson James Securities, Inc. acted as exclusive placement agent in connection with the offering.
Emerging Growth Equities, Ltd. Initiates Coverage of Sarepta Therapeutics, Inc. (SRPT) With a BUY Rating and $38.00 Price Target
Last update: 3/11/2013 1:17:00 PM
KING OF PRUSSIA, Pa., March 11, 2013 /PRNewswire via COMTEX/ -- Emerging Growth Equities, Ltd. initiates coverage of Sarepta Therapeutics, Inc. (SRPT) with a BUY rating and a $38.00 price target. Sarepta Therapeutics, Inc. focuses on the discovery and development of RNA-based therapeutics for the treatment of rare and infectious diseases.
Emerging Growth Equities, Ltd., is a specialty brokerage and investment banking firm that provides high quality distribution, research and trade execution for institutional and retail clients. Emerging Growth Equities, Ltd. specializes in fulfilling the capital requirements of well-managed emerging growth companies.
Institutional investors may call their Emerging Growth Equities, Ltd. sales person for a full text of the report at 610-783-1800.
This publication is neither an offer to sell nor a solicitation to buy any securities mentioned herein. The information contained herein is based on data obtained from recognized sources that are believed to be reliable. Emerging Growth Equities, Ltd. has not independently verified the facts, assumptions and estimates contained in this report. Accordingly, no representation or warranty, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions contained in this report. The information contained in this report is not and does not purport to be a complete analysis of every material fact respecting any company, industry, or security.
Most of the companies Emerging Growth Equities, Ltd. follows are emerging and mid-sized growth companies whose securities typically involve a higher degree of risk and more volatility than the securities of more established companies. For these and other reasons, the investments discussed or recommended in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Transactions in securities mentioned herein may be effected only in those states where such securities are qualified for sale.
Any statements nonfactual in nature herein constitute only current opinions or estimates, represent only the current judgment of the author(s), and are subject to change without notice. This report contains forward-looking statements, which involve risks and uncertainties. Actual results may differ significantly from the results described in the forward-looking statements. Emerging Growth Equities, Ltd. (or one of its affiliates) or their partners, officers, directors, analysts, employees or customers may have an interest in the securities mentioned herein and may make purchases or sales as principal or agent of these securities, or their derivatives, while this report is in circulation. A partner, employee, analyst, officer, or director of Emerging Growth Equities, Ltd. (or one of its affiliates) may serve as a director or consultant for any company mentioned herein. Emerging Growth Equities, Ltd. (or one of its affiliates) may from time to time perform investment banking services for, or solicit investment banking business or other business from, any company mentioned herein. Additional information on the securities discussed herein is available on request. © Copyright 2013 Emerging Growth Equities, Ltd.
Emerging Growth Equities, Ltd. is a member of the Financial Industry Regulatory Authority, CRD number 47040.
Contact: Debjit Chattopadhyay, Ph.D., MBA
Director of Research
610-783-4782 or 888-293-1800
SOURCE Emerging Growth Equities, Ltd.
Copyright (C) 2013 PR Newswire. All rights reserved
Sarepta Therapeutics Announces Fourth Quarter and Full-Year 2012 Financial Results and Recent Corporate Developments
PrintAlert
Sarepta Therapeutics, Inc. (MM) (NASDAQ:SRPT)
Intraday Stock Chart
Today : Thursday 7 March 2013
Sarepta Therapeutics, Inc. (NASDAQ: SRPT), a developer of innovative RNA-based therapeutics, today reported financial results for the three months and full year ended December 31, 2012, and provided an update of recent corporate developments.
"Last year was a transformational year for Sarepta as we achieved tremendous progress with our lead DMD product candidate, eteplirsen, which demonstrated safety and efficacy that highlights its potential to be a major advance in the treatment of this disease," said Chris Garabedian, president and chief executive officer of Sarepta Therapeutics. "We look forward to our upcoming meetings with the FDA to discuss our eteplirsen data and to determine the fastest path toward potential approval, along with our plans to supply the market in the event of an early approval."
Financial Results
For the fourth quarter of 2012, Sarepta reported an operating loss of $10.4 million, compared with an operating loss of $9.0 million in the fourth quarter of 2011. The incremental loss is the result of a $6.3 million decrease in government contract revenues offset by a $4.9 million decrease in operating expenses.
Revenue for the fourth quarter of 2012 was $7.3 million, down from the $13.6 million in the fourth quarter of 2011. The $6.3 million decrease was due to the August 2012 stop-work-order and subsequent termination of the Ebola portion of the Ebola Marburg U.S. government contract due to a lack of available U.S. government funding. The Ebola termination did not impact the Marburg portion of the contract. Revenues from the Marburg portion of the contract also decreased due to the timing of activities throughout the normal progression of the contract. These decreases were partially offset by revenue from the intramuscular administration contract with the U.S. government for the Marburg virus that started in August 2012.
Research and development expenses were $12.8 million in the fourth quarter of 2012, compared to $18.7 million in the fourth quarter of 2011, a decrease of $5.9 million. The decrease was primarily attributable to termination of the Ebola portion of the government contract, reduced spending on the Marburg portion of the government contract due to the timing of activities and reduced spending associated with DMD and other proprietary research. This decrease was partially offset by increased spending related to the intramuscular administration contract.
General and administrative expenses in the fourth quarter of 2012 were $4.9 million, compared to $3.9 million in the fourth quarter of 2011, an increase of $1.0 million. The increase was the result of additional personnel costs associated with key positions hired in the second half of 2012.
For the full year 2012, the operating loss was $29.7 million, compared to an operating loss of $35.9 million for the prior year. The $6.2 million improvement was the result of a $14.5 million decrease in research and development expenses and a $1.4 million decrease in general and administrative expenses partially offset by a $9.7 million decrease in revenue from government contracts.
Revenue for the full year 2012 decreased to $37.3 million from $47.0 million in 2011 primarily due to the Ebola stop-work-order, the termination of the Ebola portion of the Ebola Marburg contract in the second half of 2012 and the completion of the H1N1/influenza contract with the U.S. government in June 2011.
Research and development expenses were $52.4 million for 2012, compared to $66.9 million for the prior year, a $14.5 million decrease. The decrease was due primarily to reduced costs related to the Ebola portion of the Ebola Marburg government contract, the completion of the H1N1 contract in 2011 and a reduction in our overall non-DMD proprietary research.
General and administrative expenses for 2012 were $14.6 million, compared to $16.0 million for 2011, a decrease of $1.4 million. The decrease was primarily due to reduced professional service costs and severance costs compared to the prior year.
The net loss for the fourth quarter of 2012 was $62.1 million, or $2.36 per share, compared to a net loss for the fourth quarter of 2011 of $1.4 million, or $0.06 per share. The net loss for the full year 2012 was $121.3 million, or $5.14 per share, compared to a net loss in 2011 of $2.3 million, or $0.11 per share. The increase in the net loss for both the fourth quarter and the year was primarily due to the change in the valuation of outstanding warrants to purchase common stock described below.
In connection with prior equity financings, Sarepta issued warrants that are classified as current liabilities and are adjusted to fair value on a quarterly basis with the change in fair value being included in net loss. The amount included in net loss is a non-cash item as Sarepta is not required to expend any cash to settle the warrant liability. The warrant liability is primarily affected by changes in Sarepta's stock price during each financial reporting period which causes the warrant liability to fluctuate as the market price of Sarepta's stock fluctuates. In the fourth quarter of 2012, the increase in Sarepta's stock price resulted in the warrant valuation increasing which resulted in other expense of $51.8 million. In the fourth quarter of 2011, the decrease in Sarepta's stock price resulted in other income of $7.4 million. For the full year 2012, the change in the warrant valuation resulted in other expense of $91.9 million while in 2011, the decrease in the warrant valuation resulted in other income of $33.0 million.
Sarepta had cash and cash equivalents of $187.7 million as of December 31, 2012, an increase of $147.8 million from December 31, 2011. This increase was primarily due to the completion of public stock offerings during the second half of 2012 which raised net proceeds of $154.3 million and warrant exercises that raised an additional $20.6 million. These sources of funds were partially offset by $29.7 million of cash used for operations during the year.
Sarepta Therapeutics Started at Outperform by Leerink Swann
Last update: 3/5/2013 6:12:03 AM
awesome news, look out today
Sarepta's Marburg Drug Shows High Survival Rates After Intramuscular Delivery in Non-Human Primates
PrintAlert
Sarepta Therapeutics, Inc. (MM) (NASDAQ:SRPT)
Intraday Stock Chart
Today : Monday 4 March 2013
Sarepta Therapeutics, Inc. (NASDAQ: SRPT), a developer of innovative RNA-based therapeutics, today announced positive results from a non-human primate study of AVI-7288, the Company's lead drug candidate for the treatment of Marburg virus infection. The data showed that intramuscular administration of AVI-7288 resulted in survival rates up to 100 percent in treated subjects, similar to efficacy observed in previous studies that evaluated the drug when administered by intravenous injection. Marburg hemorrhagic fever is a severe and highly lethal disease with no effective treatments, and it has been classified as a Category A bioterrorism agent by the Centers for Disease Control and Prevention (CDC).
"These data reinforce the strong efficacy of AVI-7288, while showing that the drug can be delivered via a convenient intramuscular injection," said Chris Garabedian, president and chief executive officer of Sarepta Therapeutics. "This alternative delivery method to the intravenous route has the potential to greatly enhance the practical utility of AVI-7288 in a mass casualty situation and also serves as a model for delivery of our rapidly adaptable platform for other therapeutic applications."
Sarepta is developing AVI-7288 under a U.S. Department of Defense (DoD) contract managed by the Joint Project Manager Transformational Medical Technologies (JPM-TMT) Project Management Office, a component of the Joint Program Executive Office for Chemical and Biological Defense (JPEO-CBD). Under the contract, Sarepta initiated the study in non-human primates to evaluate the tolerability, pharmacokinetics and efficacy of AVI-7288 through intramuscular administration. The study included four cohorts in which subjects received daily treatments of AVI-7288 ranging from 7.5 to 30 mg/kg or a placebo after exposure to the virus.
In the study, intramuscular injections of AVI-7288 were well tolerated. Efficacy results showed a high degree of survival between 83 and 100 percent in each of the three treatment groups. No subjects survived in the placebo-treated control group.
Under a separate contract with JPM-TMT, Sarepta is developing an intravenous formulation of AVI-7288, which has demonstrated similar survival rates even when the drug is administered up to four days after exposure to the Marburg virus.
The work is a collaborative effort between Sarepta and scientists at the U.S. Army Medical Research Institute of Infectious Diseases (USAMRIID), the DoD's leading medical research laboratory for biological defense, which has the DoD's only maximum containment, or Biosafety Level 4, capability.
About Marburg Virus
Marburg hemorrhagic fever is a severe and potentially fatal disease in humans first recognized in 1967. It is caused by an RNA virus of the Filoviridae family and is understood to be endemic to Africa. The Marburg virus is classified as a Category A bioterrorism agent by the Centers for Disease Control and Prevention, or CDC, and is a material threat to national security and public health as determined by the Secretary of Homeland Security in 2006. Onset of the disease is often sudden, and the symptoms include fever, chills, nausea, vomiting, chest pain and diarrhea. Increasingly severe symptoms may also include massive hemorrhaging and multiple organ dysfunctions. There are currently no treatments for Marburg virus infection beyond supportive care.
shoulda woulda coulda, in for the long hull
thanks for that ron
True, but with swings like today, do u blame them
Are we really going to finsh in the minus today?
Sarepta Therapeutics rises on analyst rating
Sarepta rises as analyst predicts strong sales of Duchenne drug and looks to antiviral drugs
Associated Press – 53 minutes ago
NEW YORK (AP) -- Shares of Sarepta Therapeutics Inc. rose Friday after a Cowen & Co. analyst took a positive view of the company's experimental drugs.
THE SPARK: Analyst Edward Nash began covering Sarepta shares with an "Outperform" rating. Nash said he thinks the company's Duchenne muscular dystrophy drug eteplirsen will be approved in 2016, and he said sales of that drug alone should be enough to make the company profitable that year. He added that the U.S. Department of Defense has shown strong interest in the company's antiviral drugs.
The analyst projected $263 million in U.S. sales of eteplirsen in 2016.
THE BIG PICTURE: Sarepta is based in Cambridge, Mass., and does not have any approved drugs. Eteplirsen is its most advanced drug candidate. It is designed to treat Duchenne muscular dystrophy, a rare genetic disease that causes increasing muscle weakness. The National Institutes of Health say patients typically die before the age of 25.
Nash said eteplirsen would be the first approved drug for the condition, and it might be used to treat about 1,500 patients initially.
The company is also conducting early clinical trials of potential treatments for Ebola and Marburg virus and flu. Studies of the Marburg virus drug are being funded under an agreement with the Defense Department.
The Marburg virus is indigenous to Africa and is spread through contact with infected animals or the bodily fluids of infected humans. Symptoms also include shock, delirium and multi-organ dysfunction. Sarepta said the virus is classified as a bioterrorism threat. Ebola causes severe internal bleeding and has no cure.
SHARE ACTION: Sarepta shares advanced $3.42, or 14 percent, to $27.81 in late trading. The shares surged after Sarepta reported positive clinical trial results for eteplirsen in July, and jumped again in October after the company reported more data. The shares closed at $3.46 on July 23 and more than doubled in value the next day. The stock peaked at $45 on Oct. 3.
..
what a ride this stock has been!!!!
Sarepta Therapeutics Started at Buy by Janney >SRPT
Last update: 1/3/2013 6:43:34 AM
(END) Dow Jones Newswires
January 03, 2013 06:43 ET (11:43 GMT)
Sarepta Therapeutics Enters Into Clinical Trial Agreement With The National Institutes Of Health For Further Development Of Influenza Drug
Last update: 12/21/2012 8:31:23 AM
Nice finish today with little volume, but more last thursday
Is there going to be a last 15 minute surge
Sarepta Therapeutics (SRPT) Overweight
PJC Conf: CEO to Ask FDA if Eteplirsen Appropriate for Accelerated Approval
PRICE: US$31.01
TARGET: US$38.00
Proj. EV of $918M + YE:13 net cash
Edward A. Tenthoff
Sr Research Analyst, Piper Jaffray & Co.
212 284-9403, Edward.A.Tenthoff@pjc.com
Neera Dahiya Ravindran, M.D.
Research Analyst, Piper Jaffray & Co.
212 284-9401,
Neera.Dahiya.Ravindran@pjc.com
Related Companies: Share Price:
SRPT 31.01
R I S K S T O A C H I E V E M E N T O F
P R I C E TA R G E T
Eteplirsen may not gain accelerated approval.
Sarepta may lose government funding and may
have to raise additional capital. Sarepta is
prosecuting its patents.
C O N C L U S I O N
Today Chris Garabedian, President and CEO of Sarepta, presented to a standing-roomonly
crowd at the 24th Annual Piper Jaffray Healthcare Conference in New York. The
primary driver for the company remains eteplirsen, for which Sarepta is preparing
briefing documents to submit to the FDA for an end-of-Phase II meeting, likely to
be held in 1Q:13. The company will ask the agency if eteplirsen is appropriate for
accelerated approval. Regardless, Sarepta will conduct a confirmatory study to begin in
2014. Sarepta holds pro forma cash of $57.4 million. We reiterate our Overweight rating
and $38 price target.
• Remarkable DMD Data. In the presentation, Chris Garabedian described the safety
of the underlying PMO chemistry as what enabled Sarepta to dose higher and find
a therapeutic window for eteplirsen. The Phase IIb study, 30mg/kg or 50mg/kg
once weekly doses of eteplirsen (n=8), showed a statistically significant increase in
dystrophin-positive fibers to 47.0% of normal at 48 weeks (p=0.001). The 50mg/kg
eteplirsen cohort (n=4) showed an increase of 21.0 meters in 6MWT from baseline vs.
a decline of 68.4 meters in placebo/delayed treatment boys (p=0.016).
• Potential for Accelerated Eteplirsen Approval? Sarepta will submit briefing documents
to the FDA for an end-of-Phase II meeting likely to be held in 1Q:13. The company
will ask the agency if eteplirsen is appropriate for accelerated approval. We believe
eteplirsen meets the criteria and expect the agency is under significant pressure to
approve eteplirsen under PDUFA V with meaningful post-approval commitments,
especially considering the drug's clean safety profile. Either way, Sarepta will begin a
confirmatory trial in early 2014.
• Other Exons. Garabedian also described how Sarepta can apply exon skipping
technology to treat mutations in other exons of the dystrophin gene. The company is
targeting the top 5 other mutations including exon 45 and 50, and a new collaboration
with the University College of London for exon 53.
• Strengthened Cash Position. Sarepta ended 3Q:12 with cash of $38 million and took
down $37.8 million of the Citadel ATM at an average price of $19.05 for 1.984 million
shares. In addition, ~532,000 warrants were exercised, bringing in an additional $5.6
million. Sarepta holds pro forma cash of $57.4 million and could gain another $10
million in 4Q:12 through the exercise of additional warrants.
C O M P A N Y D E S C R I P T I O N
Sarepta is developing morpholino drugs for rare and infectious diseases.
Sarepta Therapeutics, Inc. Page 1 of 3
Piper
added a few today, hope the chart goes the way u say fox
wow anyone lucky and get in on that drop
Are we all having a nice day? And an extra special Thanksgiving to all
great article , thanks for sharing
Iam still here, just sittin nice and quiet enjoying it
Great find, thanks for posting it
I understand, but its not news, we knew of this conference last week, theres something else that we dont know, If this aint $45 monday morning, its in the low $20s by later part of the week, believe me, I hope $45
cant understand how this went up over $2 in after market
To Present Addl. Phase IIb Data Of Eteplirsen To Treat DMD - Quick Facts
(RTTNews.com) - Sarepta Therapeutics Inc. (SRPT) said Friday that data from a Phase IIb study of its investigational drug eteplirsen for the treatment of boys with Duchenne muscular dystrophy will be presented on October 13 at the World Muscle Society in Perth, Australia.
The presentation will describe new and previously reported efficacy and safety data from the Phase IIb study examining 48 weeks of treatment with eteplirsen in boys with Duchenne muscular dystrophy, or DMD.
Results from the Phase IIb extension study confirmed that eteplirsen met the primary efficacy endpoint, increase in novel dystrophin, and achieved a significant clinical benefit on the primary clinical outcome, the 6-minute walk test over the placebo/delayed treatment cohort.
Additional data to be presented includes: individual patient data on the primary endpoint of change in dystrophin-positive fibers from baseline; additional biochemical findings including RT-PCR and western blot images from selected patients; additional information on the two patients in the 30 mg/kg cohort who showed a rapidly progressive decline on the 6-minute walk test and were excluded from the analysis.
Data to be presented will also include summary of treatment-emergent adverse events comparing eteplirsen-treated patients versus placebo, which demonstrated that eteplirsen was well-tolerated through 48 weeks of treatment. No treatment-related adverse events, serious adverse events, or treatment discontinuations related to eteplirsen were observed.
Dystrophin, a large structural protein, is critical to the stability of myofiber membranes in skeletal, diaphragmatic and cardiac muscle, protecting muscle fibers from contraction-induced damage. Loss of functional dystrophin destabilizes the dystroglycan protein complex, impairing its localization to the muscle membrane, and compromising the integrity of the membrane structure.
For comments and feedback: contact editorial@rttnews.com
http://www.rttnews.com
HOw are you hearing that? post your source please
last week We new this was happening tomorrow, I cant believe its running for that reason, UNLESS there is better news then we had last week coming in the morning
'
Enough with this sell off, geeesh,
Do u want a metal,
This buying will continue right into after hours
UPDATE: Sareptas' Muscular Dystrophy Drug Helps Patients Walk Farther
Last update: 10/3/2012 1:33:55 PM
--Study showed patients who took drug walked on average 89 meters farther than placebo group
--Results are from small midstage trial; company seeks expedited FDA approval
--Sarepta shares nearly triple, hit six-year highs
(Updated throughout with additional context and quotes from executives and industry observers.)
By Joseph Walker
Sarepta Therapeutics Inc.'s (SRPT) treatment for a rare and terminal form of muscular dystrophy helped patients to walk about a football field farther during a six-minute test, producing "a significant clinical benefit" and more than doubling the company's market value Wednesday.
The results were from a midstage trial, but the company expects to meet with the FDA to request expedited approval in January. The trial's relatively small sample size, though, could hinder the drug's ability to get quick approval.
The drug, Eteplirsen, helps to repair a genetic mutation that results in severe muscle loss, paralysis and eventual death in young boys suffering from Duchenne Muscular Dystrophy. The disorder affects around 14,500 patients in the U.S. and about 2,000 of those have the specific mutation that Sarepta's drug targets.
The results of the mid-stage trial suggest that drug may halt or delay the disease's progression and give patients who would have been confined to wheelchairs the improved ability to walk, the company said.
"We may be able to produce a relatively healthy, normal life for these boys," Chief Executive Chris Garabedian said.
Shares of Sarepta soared Wednesday, hitting a six-year high of $43.12. The stock was recently up $27.10, or 180%, on the day at $42.10.
The study looked at the effects of Eteplirsen in 12 boys between the ages of 7 and 13 who suffer from Duchenne and have a specific genetic mutation that inhibits the production of dystrophin, which causes the muscle loss.
The eight patients who received the drug over a period of 48 weeks saw their dystrophin levels rise to 47% of normal, a statistically significant increase, and were able to walk 89.4 meters farther than those who received a placebo for 24 weeks and eteplirsen for 24 weeks. There were no notable side effects or serious adverse events associated with the drug.
"This is a great day for the Duchenne community, but we have to interpret the results with caution because of the small numbers in the study," said Dr. Valerie Cwik, interim president of the Muscular Dystrophy Association. More studies may be needed before any regulatory approval is granted, some analysts said.
The company is looking at applying the drug and its technology to the other mutations causing the disorder.
"If we can get this drug approved, we believe there is a streamlined path" toward applying the technology to more Duchenne patients, Mr. Garabedian said.
If approved, Eteplirsen would enter the profitable "orphan" drug category of very expensive treatments for rare diseases. Mr. Garabedian said he expects the drug would cost in the range of $300,000 to $500,000 per year.
Not all of Sarepta's news was positive Wednesday. The company said the U.S. Department of Defense terminated a contract for developing an Ebola virus treatment after selecting an alternative drug.
--Tess Styne contributed to this report.
Write to Joseph Walker at Joseph.Walker@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
October 03, 2012 13:33 ET (17:33 GMT)
What would she be at now if Ebola wasnt terminated?
goodmorning all, and a good morning it is, congrats to all us longs
also there has only been 2.6 mill in volume, i would think if its good or bad tomorrow we will see 10 mill, so i dont know what to make of the vol today, if they new, the vol would of been prolly 5 mill
iam praying also dude, i dont like the fact its down $2.00 plus today after its high at $17.12, I hope its not because someone knows bad shit is coming for tomorrows report, what other reason is for this drop, i dont think this is just profit takers
Iam right with ya, one of two things will happen,, A- either get rich with the results, B- or go down with the ship with bad results, I like -A- and will take the chance
WOW why the big sell off, from $17, wow