Sarepta Therapeutics Inc (NASDAQ: SRPT)
Sarepta Therapeutics didn't look like it was going to have the best of days in the market today. While the stock was in the green at the start of the session, it went on a dash toward the bottom when the opening bell rang. However, minutes ago, things started to change for the stock in a big way as it started to spike upward. Below, we'll talk about what we're seeing from the stock, why, and what we'll be watching for with regard to SRPT ahead.
What We're Seeing From SRPT
As mentioned above, Sarepta Therapeutics didn't look like it was off to the best of starts in the market today. Although the stock did start the day in the green, it didn't take long to make it to the red after the opening bell. Nonetheless, minutes ago, the stock started to spike upward in a big way. At the moment (10:42), SRPT is trading at $36.22 per share after a gain of $4.96 per share (15.88%) thus far today.
Why The Stock Is Climbing
As is nearly always the case, our partners at Trade Ideas were the first to inform us of the gains on SRPT. As soon as they did, the CNA Finance team started digging to see what was causing the movement in the stock. In this case, it took no time at all to uncover the story. Minutes ago, the company released a business update that excited investors.
In the update, Sarepta Therapeutics offered several bits of positive news. First and foremost, the company generated $5.4 million through Exondys 51 in the fourth quarter. On top of that, they have received more than 250 start forms - more than 100 of them from physicians. Finally, the company explained that it is currently in active discussions with payers to expand the horizons of covered lives.
What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on SRPT. In particular, we'll be watching for further developments with regard to Exondys 51. If the company continues in this direction, there's definitely more positive news to come. We'll keep a close eye on the story and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!
[Image Courtesy of Pixabay]