PYC pyc therapeutics limited

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  1. SoT
    858 Posts.
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    Worth keeping an eye on this:
    https://www.bizjournals.com/boston/...-may-look-to-bolster-pipeline-after-250m.html
    Sarepta may look to bolster pipeline after $250M offering
    Jul 24, 2017, 11:57am EDT
    Sarepta Therapeutics is planning to raise up to $250 million in a new stock offering, and said it may use some of the proceeds to acquire or license additional drug candidates.
    Sarepta (Nasdaq: SRPT) outlined the proposed offering in a release on Monday. The company said that new CEO Douglas Ingram is interested in buying up to $2 million worth of the shares.
    Proceeds from the offering could be used to license or acquire “complementary products and technologies,” or for a range of other purposes, including to fund clinical trials, commercialization activities and manufacturing, Sarepta said.
    The company's most recent licensing deal — a $35 million pact with BioMarin Pharmaceutical announced on July 18 — was part of a settlement to resolve patent lawsuits. Sarepta has also announced a handful of collaboration deals this year focused on gene therapy treatments for Duchenne muscular dystrophy.
    Monday's proposed stock offering comes five days after Sarepta announced positive second quarter earnings, sending its share price up 20 percent. In particular, the company said that its FDA-approved drug for Duchenne, Exondys 51, had generated $35 million in sales in the quarter, far exceeding the consensus estimate of analysts of around $22 million. Sarepta also boosted its guidance for total revenue in 2017, from more than $95 million to between $125 million and $130 million.
    While companies typically see their stock prices decline following stock offerings due to dilution, shares of Sarepta were up more than 1 percent as of 11:45 a.m. on Monday. As of that time, the company had not priced its offering.
    Exondys 51 is the first disease-modifying treatment for Duchenne, which causes progressive muscle weakness and mainly affects boys. The drug is designed to skip over a particular genetic mutation that is shared by about 13 percent of patients.
    Sarepta’s pipeline currently includes a handful of Duchenne drugs that target other genetic mutations, as well as the experimental gene therapy treatments.
    .......................
 
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