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Duchenne muscular dystrophy (DMD) company Sarepta Therapeutics Inc. (NASDAQ:SRPT) raised $300 million through the sale of 5 million shares at $59.75 in a follow-on underwritten by JPMorgan, Goldman Sachs, Credit Suisse, Baird, Needham, Oppenheimer, Wedbush PacGrow and WBB Securities.
After market hours Wednesday, the company proposed to raise $225 million when its stock was at $56.22. Sarepta gained $4.75 to $60.97 on Thursday, and priced the offering after market close.
On Monday, FDA granted accelerated approval to Sarepta's Exondys 51 eteplirsen to treat DMD amenable to exon 51 skipping. Sarepta shares have risen 117% since their Sept. 16 close of $28.15, before FDA approved the drug (see BioCentury Extra, Sept. 19).
Original Article: Sarepta raises $300M in bumped-up follow-onNEXT ARTICLE
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