Dallas, Texas 07/26/2013 (Financialstrend) – Sarepta Therapeutics Inc. (NASDAQ:SRPT) has announced that the firm plans to put forward new drug application – NDA to the United States Food and Drug Administration – FDA for the endorsement of Eteplirsen for the treatment of Duchenne muscular dystrophy – DMD in the first half of 2014.
Eteplirsen is the firm’s lead exon skipped compound in growth for handling the patients with DMD who have a genotype acquiescent to skipping of exon 51.
The decision made by the firm to submit an NDA is based on productive communications with the Food & Drug Administration in a meeting that occurred this week.
Sarepta Therapeutics Inc. (NASDAQ:SRPT) lost by 2.07% on Thursday and thereby reported a closing price of $36.90 per share for the day. The company had reported an intraday low price of $35.33 and intraday high price of $37.36 on Thursday. The 52 week low price of the stock is at $7.28 and 52 week high price of the stock is at $47.35 per share. Presently there are 31.89 million shares of the company outstanding in the market and the institutional ownership is at 72%. The stock had a trading volume of 5.17 million shares on Thursday and the average trading volume of the company is at the level of 1.88 million shares per day.
Sarepta Therapeutics Inc. (NASDAQ:SRPT) initially known as AnitVirals, Inc. founded in 1980, is a medical research and drug development firm mainly focused on the detection and expansion of ribonucleic acid RNA based therapeutics for the treatment of uncommon and infectious diseases that includes its lead infectious disease programs aimed at the development of drug applicants fot he Ebola & Marburg hemorrhagic fever viruses. The firm has 170 issued medical patents and over 150 patents pending as of 2008.
The firm’s primary products are Morpholino oligomers, synthetic nucleic acid analogs. Morpholinos have been experienced for a wide series of applications that includes prevention of cardiac restenosis after angioplasty. Additionally, to development of the product as therapeutics, SRPT has also conducted 6 human trials for colorectal & pancreatic cancers using cancer Vaccine AVICINE.