Sarepta Therapeutics,, Inc. - SRPT STOCK NEWS

Sarepta Therapeutics (NASDAQ:SRPT) announced that its senior management will participate in a fireside chat during the 5th Annual Evercore ISI HealthCONx Conference on December 1, 2022, at 2:15 p.m. E.T. The event will be held virtually and available for live streaming on the investor relations section of Sarepta's website. The presentation will remain archived for 90 days post-event. Sarepta is dedicated to developing precision genetic medicine for rare diseases, with over 40 programs in development.

Sarepta Therapeutics (NASDAQ:SRPT) reported Q3 2022 revenues of $230.3 million, with net product revenues up 24% year-over-year at $207.8 million. The company submitted a Biologics License Application for its gene therapy SRP-9001 targeting Duchenne muscular dystrophy, based on promising clinical results. Additionally, Sarepta raised $1.2 billion to support the therapy's launch. However, the company posted a net loss of $257.7 million for the quarter, an increase from a loss of $48.1 million in Q3 2021.

Sarepta Therapeutics (NASDAQ:SRPT) granted equity awards to 34 new employees on October 31, 2022. The awards include options for 31,125 shares and 16,075 restricted stock units (RSUs). The options have an exercise price of $114.02 per share, matching the closing price on the grant date. Options will vest over four years, with one-fourth vesting after one year and the rest vesting monthly. RSUs will vest annually over the same timeframe. This initiative was approved under Nasdaq Listing Rule 5635(c)(4) as an inducement for employment.

Sarepta Therapeutics (NASDAQ: SRPT) will announce its third quarter 2022 financial results on November 2, 2022, after market close. A conference call will follow at 4:30 p.m. E.T. to discuss the results. Sarepta, a leader in precision genetic medicine, focuses on rare diseases, particularly Duchenne muscular dystrophy and limb-girdle muscular dystrophies, with over 40 programs in development. The event will be available via live webcast and archived on the company's investor relations website for one year.

Sarepta Therapeutics (NASDAQ:SRPT) will present new data from its genetic medicine portfolio at the 27th International Hybrid Annual Congress of the World Muscle Society 2022 from October 11-15 in Halifax, Canada. Key presentations include real-world evidence on eteplirsen for Duchenne and preclinical data for SRP-9001, a gene therapy targeting Duchenne muscular dystrophy. The company's commitment to advancing treatments is emphasized by its extensive research and development efforts.

Sarepta Therapeutics (NASDAQ:SRPT) granted equity awards on September 30, 2022, to 43 new employees as part of its 2014 Employment Commencement Incentive Plan. The total awards included options to purchase 53,575 shares and 27,525 restricted stock units (RSUs). The options have an exercise price of $110.54 per share, matching the closing stock price on the Grant Date. Vesting for options occurs over four years, while RSUs also vest over four years, contingent on continued employment.

Sarepta Therapeutics (NASDAQ:SRPT) announced the submission of a Biologics License Application (BLA) to the FDA for accelerated approval of SRP-9001, a gene therapy for Duchenne muscular dystrophy. The application is based on positive clinical trial results showing effective dystrophin protein expression and a consistent safety profile. The fully-enrolled EMBARK study will serve as the post-marketing confirmatory trial. SRP-9001 holds Fast Track and Rare Pediatric Disease designations, enhancing its development prospects.

Sarepta Therapeutics announced a pricing of $980 million in convertible senior unsecured notes, maturing on September 15, 2027, to fund operations towards profitability. The offering, which includes a $150 million option for initial purchasers, is expected to net approximately $979.4 million after expenses. Proceeds will repay existing debt, fund general corporate purposes, and cover costs related to capped call transactions aimed at offsetting potential dilution. The notes carry a 1.25% interest rate and a conversion price of approximately $141.97 per share, reflecting a 35% premium.

Sarepta Therapeutics (NASDAQ:SRPT) announced a proposed offering of $1 billion in convertible senior unsecured notes maturing on September 15, 2027. The funds will be used for various purposes, including repurchasing existing convertible notes, repaying borrowings, and supporting general corporate needs. The offering, combined with current cash and projected revenue, aims to fund operations to profitability. Sarepta expects to grant purchasers an option to buy an additional $150 million in notes, with interest payments beginning March 15, 2023.