Sarepta readies $125M raise to back muscular dystrophy drug work

With its shares fattened by speculation of a possible accelerated approval path for its closely-watched eteplirsen, an experimental treatment for Duchenne muscular dystrophy, Sarepta Therapeutics ($SRPT) reports that it is preparing to sell up to $125 million in shares. Any money the biotech raises can be used to scale up manufacturing as well as the planned Phase III study, which Sarepta hopes can be conducted after the FDA provides an early OK on the drug. But its prospects have been hotly debated among investors, some of whom are gambling that GlaxoSmithKline's ($GSK) Phase III drug drisapersen will make it to the market first. Sarepta shares slipped about 4% after the close on Wednesday, falling to $38.11. Release

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