Sarepta raises $100.7 million in follow-on

Sarepta Therapeutics Inc. (NASDAQ:SRPT) raised $100.7 million through the sale of 2.7 million shares at $38 in a follow-on underwritten by BofA Merrill Lynch; Morgan Stanley; Deutsche Bank; Baird; William Blair; and Canaccord. Sarepta proposed to raise up to $100 million in the offering on Tuesday, when its share price was $38.79.

On Monday, Sarepta jumped $9.58 (39%) to $33.98 after the company said it plans to submit an NDA to FDA for eteplirsen ( AVI-4658) to treat Duchenne muscular dystrophy (DMD) by year end. In November, the company fell after saying approval of eteplirsen could be delayed by at least two years (see BioCentury Extra, April 21). ...