Sarepta Jumps on Broad Approval for Muscular Dystrophy Drug [Yahoo! Finance Canada]
Pfizer, Inc. (PFE)
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Source: Yahoo! Finance Canada
the market for a controversial treatment that still hasn't proved its benefit in clinical trials. Most Read from Bloomberg The shares surged 38% before US markets opened Friday, setting up Cambridge, Massachusetts-based Sarepta for its biggest gain in five years if the move holds into regular trading. ADVERTISEMENT The treatment's approval was widened for use in patients who are at least 4 years old with Duchenne muscular dystrophy, Sarepta said Thursday. The Food and Drug Administration granted traditional clearance for patients who can still walk. It also gave accelerated approval for use in those who can't walk, meaning the company will need to perform a confirmatory trial. The decision was “essentially the best-case scenario” for Sarepta, said Tim Lugo, an analyst at William Blair & Co. The broader label will drive “significant top-line growth for the company in the near term,” he said in a note. Brian Abrahams, an analyst at RBC Capital Markets, noted that Peter Marks
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- 6/11/24 - Form 11-K
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