Leerink notes that shares of Outperform-rated Sarepta (SRPT) are under pressure on the heels of the disclosure of a patient death following Elevidys treatment. While an “incredibly sad” development for the young man, his family, and the Duchenne muscular dystrophy community, it appears that this is a unique event with a very low incidence rate, the firm says. Leerink continues to view the benefit/risk of Elevidys treatment favorably, and thinks the stock reaction for Sarepta is “overdone,” although it could provide a lift for next-generation microdystrophin gene therapy developers such as Regenxbio (RGNX) and Solid Biosciences (SLDB) who use different capsids and transgenes.
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Read More on SRPT:
- Sarepta shares to dislocate from fundamentals after patient death, says JPMorgan
- BofA says Elevidys risk-reward favorable despite Sarepta report of patient death
- Optimistic Buy Rating for Sarepta Therapeutics Amidst DMD Treatment Challenges and Safety Concerns
- Patient death shouldn’t spell the end for Sarepta’s Elevidys, says RBC Capital
- Jefferies expects Sarepta weakness given uncertainty around Elevidys safety
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