CAMBRIDGE, Mass.–(BUSINESS WIRE)– Sarepta Therapeutics, Inc. (NASDAQ:SRPT), a developer of innovative
RNA-targeted therapeutics, today announced a long term plan to move all
of the Company’s operations to Massachusetts, as part of a strategic
plan to increase operational efficiency.
Over the course of the year, the Company plans to close their facility
in Corvallis, Oregon, which primarily focused on early-stage research
and research manufacturing. As part of the consolidation, research
activities and some employees will transition to Sarepta facilities in
Andover and Cambridge, Massachusetts.
“For a biotechnology company of our size and stage of development, it is
operationally important to centralize our facilities and focus our
efforts on the R&D, manufacturing, and pre-commercialization of
eteplirsen,” said Edward Kaye, Sarepta’s interim chief executive officer
and chief medical officer. “To that end, we will consolidate operations
to Massachusetts over the coming year to optimize the efficiency of our
R&D and manufacturing teams.”
The consolidation efforts are planned to occur in four waves – in May,
October, November, and December of this year – with an estimated
completion date of December 30, 2016.
Sarepta Therapeutics has not received formal notification of a
rescheduled date for the Peripheral and Central Nervous System Advisory
Committee Meeting to review eteplirsen, but anticipates that it will be
scheduled prior to the May 26, 2016 PDUFA date.
About Sarepta Therapeutics
Sarepta Therapeutics is a
biopharmaceutical company focused on the discovery and development of
unique RNA-targeted therapeutics for the treatment of rare, infectious
and other diseases. The Company is primarily focused on rapidly
advancing the development of its potentially disease-modifying DMD drug
candidates, including its lead DMD product candidate, eteplirsen,
designed to skip exon 51. Sarepta is also developing therapeutics for
the treatment of rare, infectious and other diseases. For more
information, please visit us at www.sarepta.com.
In order to provide Sarepta’s
investors with an understanding of its current results and future
prospects, this press release contains statements that are
forward-looking. Any statements contained in this press release that are
not statements of historical fact may be deemed to be forward-looking
statements. Words such as “believes,” “anticipates,” “plans,” “expects,”
“will,” “may,” “intends,” “potential,” “possible” and similar
expressions are intended to identify forward-looking statements. These
forward-looking statements include statements relating to the Company’s
plan to consolidate its operations in Massachusetts; the expected
completion date of such consolidation; the potential benefits of such
consolidation, including increasing the operational efficiency the
Company’s R&D and manufacturing teams; and the expected scheduling of
the Peripheral and Central Nervous System Advisory Committee meeting.
These forward-looking statements involve risks and uncertainties,
many of which are beyond Sarepta’s control. Known risk factors include,
among others: the consolidation may take longer than anticipated or
otherwise negatively impact the Company and its business plans during
and after the period during which the consolidation is being executed;
the Company may not be able to obtain the benefits it is expecting from
the consolidation; and those risks identified under the heading “Risk
Factors” in Sarepta’s 2015 Annual Report on Form 10-K filed with
the Securities and Exchange Commission (SEC) as well as other
SEC filings made by the Company which you are encouraged to review.
Any of the foregoing risks could materially and adversely affect the
Company’s business, results of operations and the trading price of
Sarepta’s common stock. For a detailed description of risks and
uncertainties Sarepta faces, you are encouraged to review the Company’s
filings with the SEC. We caution investors not to place considerable
reliance on the forward-looking statements contained in this press
release. Sarepta does not undertake any obligation to publicly update
its forward-looking statements based on events or circumstances after
the date hereof.
Internet Posting of Information
We routinely post
information that may be important to investors in the ‘For Investors’
section of our website at www.sarepta.com.
We encourage investors and potential investors to consult our website
regularly for important information about us.
Source: Sarepta Therapeutics