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Sarepta sells FDA fast pass earned from Duchenne gene therapy approval

July 5, 2023

Sarepta Therapeutics has sold the priority review voucher the Food and Drug Administration granted upon last month’s approval of Elevidys, its gene therapy for Duchenne muscular dystropy, the company announced Wednesday.

The $102 million payment from an undisclosed buyer will fund further research and development, the company said in a statement, adding to a cash pile that totaled $872 million at the end of March.

The sale won’t “have a major impact on financials” because of Sarepta’s sizable bankroll, but “bolstering the cash balance ahead of the Elevidys launch is a prudent move,” SVB Securities analyst Joseph Schwartz wrote in a Wednesday note to clients.

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