Sarepta Therapeutics Inc (NASDAQ: SRPT) is having an overwhelmingly strong start to the trading session this morning after announcing an expanded partnership. The partnership surrounds the mutual goal of companies involved to assist clinicians in identifying patients with Duchenne muscular dystrophy (DMD). Of course, the news excited investors, sending the stock on a run for the top. Today, we’ll talk about:
- The expanded partnership;
- what we’re seeing from SRPT; and
- what we’ll be watching for ahead.
SRPT Expands Partnership
As mentioned above, Sarepta Therapeutics is having an overwhelmingly strong start to the trading session this morning after announcing an expanded partnership. In a press release issued early this morning, it was announced that Invitae Corporation (NVTA) and SRPT have expanded their partnership surrounding the assistance of clinicians in identifying patients with DMD. DMD is a rare but fatal neuromuscular genetic disease that occurs in approximately one in every 3,500 to 5,000 males around the world. The ailment is caused by a change or mutation in the gene that encodes instructions for dystrophin. In order to properly diagnose and identify DMD, genetic testing is required. In a statement, Doug Ingram, President and CEO at SPRT, had the following to offer:
Our partnership with Invitae is important to advancing our clinical study objectives across our entire RNA-based platform… Sarepta’s goal is to treat 100% of eligible individuals with DMD and using the best tools to enable earlier genetic-based identification of patients is a necessary element to eventually achieving that aspiration.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news causes moves. In this particular case, the news proved to be overwhelmingly positive. As a result of the expanded partnership, Sarepta Therapeutics will have even more tools at its disposal when it comes to assisting the medical and DMD communities. So, it’s no surprise that investors are excited, sending the stock screaming for the top this morning. Of course, our partners at Trade Ideas were the first to alert us to the gains. Currently (4:00), SRPT is trading at $89.75 per share after a gain of $11.58 per share (14.81%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on SRPT. In particular, we’re interested in following the company’s ongoing work with regard to identifying and treating DMD. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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