Shares of Sarepta Therapeutics, Inc. (SRPT) shoot beyond the moon, on the news that its exon-skipping compound eteplirsen achieved a significant clinical benefit subsequent to a 36-week PhaseIIb evaluation in the treatment of Duchenne muscular dystrophy patients.
Here are Tuesday’s top stories:
Zogenix, Inc. (NASDAQ:ZGNX) shares fell and then recovered, as the firm described plans to offer 32.5 million shares of common stock at $2 per share. The proceeds should be used to repay debt, fund development of its Zohydro chronic pain drug and the current commercialization of its Sumavel DosePro needle-free delivery system, along with use for working capital and other general corporate purposes.
Don’t Miss: Merck Second Quarter Earnings Sneak Peek.
Roche Holdings Ltd. (RHHBY.PK) has received word from the FDA that its Lucentis medication appears to help improve the sight of patients suffering from diabetic macular edema, although the agency remains dubious as to whether 2 different doses are equally as safe and effective. An advisory panel will meet on Thursday to discuss whether to recommend expanding the use of Lucentis to treat the disease from two other uses.
Dendreon Corporation (NASDAQ:DNDN) shares jumped on rumors it might be trying to sell itself, with Celgene Corporation (NASDAQ:CELG) one name being removed. The fact that the new chief executive is working out of New Jersey, when the firm is based in Seattle, is only fueling the chatter.
Don’t Miss: Eli Lilly Quarterly Earnings Approaches.
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