Shares of Sarepta Therapeutics Inc (NASDAQ:SRPT) ended Thursday session in red amid volatile trading. The shares closed down -1.26 points or -2.02% at $60.98 with 3.45 million shares getting traded. Post opening the session at $62.24, the shares hit an intraday low of $60.12 and an intraday high of $63.10 and the price vacillated in this range throughout the day. The company has a market cap of $3.40 billion and the numbers of outstanding shares have been calculated to be 52.89 million shares.
On September 29, 2016 Catabasis Pharmaceuticals, Inc. (CATB), a clinical-stage biopharmaceutical company (“Catabasis”), and Sarepta Therapeutics, Inc. (SRPT), a commercial-stage developer of innovative RNA-targeted therapeutics (“Sarepta”), announced a joint research collaboration to explore a combination drug treatment approach for Duchenne muscular dystrophy (DMD). The two companies will contribute their respective expertise to study an exon skipping treatment developed by Sarepta, together with an oral NF-kB inhibition treatment developed by Catabasis in a mouse model of DMD.
“We are excited to work with Sarepta on this joint research collaboration, which to our knowledge is the first time two companies are testing a combination of investigational therapies to treat Duchenne. Although we believe edasalonexent (CAT-1004) has the potential to be a disease-modifying monotherapy, we think there is benefit to exploring innovative ways to make the most meaningful difference in this devastating disease”, said Jill C. Milne, Ph.D., chief executive officer of Catabasis. “In addition to our continued development of edasalonexent, we are pleased to take the first step via this collaboration to determine if edasalonexent may be complementary to an exon-skipping treatment strategy in the treatment of DMD using a preclinical model.”
“We recognize the extreme unmet medical need in DMD and are committed to determining the best treatment strategies for patients affected by Duchenne,” said Edward Kaye, M.D., Sarepta’s chief executive officer. “We believe exon skipping has the potential to target the underlying genetic cause of the disease by restoring the mRNA reading frame to produce dystrophin in skeletal muscle. We are pleased to initiate activities with Catabasis to evaluate a potential combination treatment approach of exon-skipping and NF-kB inhibition in DMD.”
Shares of EXACT Sciences Corporation (NASDAQ:EXAS) ended Thursday session in red mid volatile trading. The shares closed down -1.22 points or -6.46% at $17.68with 4.16 million shares getting traded. Post opening the session at $18.75, the shares hit an intraday low of $17.60 and an intraday high of $19.01 and the price vacillated in this range throughout the day. The company has a market cap of $1.84 billion and the numbers of outstanding shares have been calculated to be 106.77 million shares.
EXACT Sciences Corporation (EXAS) announced that it will host a webcast and conference call on Oct. 26, 2016, to discuss its third-quarter 2016 financial results.
Third-Quarter 2016 Webcast and Conference Call Details
Date: Wednesday, Oct. 26, 2016
Time: 10 a.m. ET, 9 a.m. CT
Webcast: The live webcast can be accessed at www.exactsciences.com
Telephone: Domestic callers, dial 877-201-0168
International callers, dial 647-788-4901
Access code for both domestic and international callers: 90495271
An archive of the webcast will be available at www.exactsciences.com. A replay of the conference call will be available by calling 855-859-2056 domestically or 404-537-3406 internationally. The access code for the replay is 90495271. The webcast, conference call and replay are open to all interested parties.