Shares of Sarepta Therapeutics Inc. SRPT were up 18.7% in trading on Wednesday afternoon, a day after the company told investors that the Food and Drug Administration does not plan to schedule an advisory committee meeting for its experimental Duchenne muscular dystrophy drug. Sarepta made the announcement as part of its fourth-quarter earnings. The rise in shares “is consistent with our view that no AdCom would be seen as a positive for SRP-9001’s accelerated approval opportunity,” SVB Securities analyst Joseph Schwartz wrote in an investor note. The FDA is set to make a decision whether to approve SRP-9001 by May 29. Sarepta’s stock is up 18.4% so far this year, while the S&P 500 SPX has gained 3.7%.
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