CAMBRIDGE, Mass., July 24, 2017 (GLOBE NEWSWIRE) -- Sarepta Therapeutics, Inc. (NASDAQ:SRPT), a U.S. commercial-stage biopharmaceutical company focused on the discovery and development of unique RNA-targeted therapeutics for the treatment of rare neuromuscular diseases, today announced that it is offering to sell, subject to market and other conditions, $250 million in shares of its common stock in an underwritten public offering. Sarepta also intends to grant the underwriters a 30-day option to purchase an additional $37.5 million in shares of its common stock offered in the public offering.
Douglas Ingram, Sarepta’s president and chief executive officer, has indicated an interest in purchasing up to $2,000,000 of shares of the company’s common stock in the offering at the public offering price.
Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint book-running managers of the proposed offering. Credit Suisse Securities (USA) LLC is also acting as a joint book-runner.
Sarepta intends to use the net proceeds from the offering principally for the continuation and initiation of further clinical trials, commercialization, manufacturing, business development activities including the potential licensing or acquisition of complementary products and technologies and other general corporate purposes. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Sarepta, nor shall there be any sale of securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Sarepta Therapeutics
Sarepta Therapeutics is a U.S. commercial-stage biopharmaceutical company focused on the discovery and development of unique RNA-targeted therapeutics for the treatment of rare neuromuscular diseases. The Company is primarily focused on rapidly advancing the development of its potentially disease-modifying Duchenne muscular dystrophy (DMD) drug candidates.
