Sarepta CEO resigns ahead of FDA meeting

Sarepta Therapeutics Inc. (NASDAQ:SRPT) gained $1.01 to $14.29 on Wednesday on news that Christopher Garabedian resigned as president, CEO and director after a Tuesday meeting with the board. CMO Edward Kaye will become interim CEO. The company said it remains on track to meet with FDA this quarter and to submit an NDA in mid-2015 for eteplirsen ( AVI-4658) to treat Duchenne muscular dystrophy (DMD).

Kaye told a conference call he believes he has a "difference in style" compared to Garabedian, and said Sarepta plans to give FDA "everything they've asked for" to make a decision. ...