Statement From Sarepta Therapeutics (Formerly known as AVI BioPharma, Inc.) on Stock Volatility
Published: Jan 31, 2013
CAMBRIDGE, MA--(Marketwire - January 30, 2013) - Sarepta Therapeutics (NASDAQ: SRPT), a developer of innovative RNA-based therapeutics, today issued the following statement from Chris Garabedian, President and Chief Executive Officer, to address volatility in the Company's stock price resulting from anonymous comments on a social media site that were later deleted.
"As a growing company, we may be subject to market rumors through social media and other anonymous sources. While we do not comment on such rumors, we believe it is important to remind our shareholders that Sarepta communicates material information in accordance with our obligations as a public company. In addition, in circumstances where false or misleading information is communicated that negatively impacts the company, we will take appropriate action. As we have previously stated, we look forward to meeting with the FDA this quarter for an end of Phase 2 clinical meeting to address the path forward for eteplirsen, our investigational treatment for Duchenne muscular dystrophy."
About Sarepta Therapeutics
Sarepta Therapeutics is focused on developing first-in-class RNA-based therapeutics to improve and save the lives of people affected by serious and life-threatening rare and infectious diseases. The Company's diverse pipeline includes its lead program eteplirsen, for Duchenne muscular dystrophy, as well as potential treatments for some of the world's most lethal infectious diseases. Sarepta aims to build a leading, independent biotech company dedicated to translating its RNA-based science into transformational therapeutics for patients who face significant unmet medical needs. For more information, please visit us at www.sareptatherapeutics.com.
Forward-Looking Statements and Information
In order to provide Sarepta's investors with an understanding of its current results and future prospects, this press release contains statements that are forward-looking. Any statements contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Words such as "believes," "anticipates," "plans," "expects," "will," "intends," "potential," "possible" and similar expressions are intended to identify forward-looking statements. These forward-looking statements include statements about the development of eteplirsen and its efficacy, potency and utility in the treatment of DMD.
These forward-looking statements involve risks and uncertainties, many of which are beyond Sarepta's control. Known risk factors include, among others: clinical trials may not demonstrate the safety and efficacy of eteplirsen and/or Sarepta's antisense-based technology platform; treatment of patients with DMD using eteplirsen over a longer duration may not lead to significant clinical benefit; and any of Sarepta's drug candidates, including eteplirsen, may fail in development, may not receive required regulatory approvals, or be delayed to a point where they do not become commercially viable.
Any of the foregoing risks could materially and adversely affect Sarepta's business, results of operations and the trading price of Sarepta's common stock. For a detailed description of risks and uncertainties Sarepta faces, you are encouraged to review the Company's filings with the Securities and Exchange.
Sarepta Investor Contact:
Sarepta Media Contact:
617.444.8424 ext. 3124