An investigation on behalf of investors in Sarepta Therapeutics Inc (NASDAQ:SRPT) shares over potential wrongdoing at Sarepta Therapeutics was announced and NASDAQ:SRPT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/19/2014 -- An investigation on behalf of current long-term investors in shares of Sarepta Therapeutics Inc (NASDAQ:SRPT) shares was announced over potential breaches of fiduciary duties by certain officers and directors at Sarepta Therapeutics.
Investors who purchased shares of Sarepta Therapeutics Inc (NASDAQ:SRPT) and currently hold any of those NASDAQ:SRPT shares have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Sarepta Therapeutics officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Sarepta Therapeutics Inc (NASDAQ:SRPT) reported that its annual Total Revenue declined from $37.33 million in 2012 to $14.22 million in 2013 and that its Net Loss decreased from $121.29 million in 2012 to $111.98 million in 2013.Shares of Sarepta Therapeutics Inc (NASDAQ:SRPT) grew from $17.91 per share in early January 2014 to as high as $38.91 per share in April 2014.
Since then NASDAQ:SRPT shares lost significant value.
On October 27, 2014, Sarepta Therapeutics Inc announced a regulatory update on Eteplirsen concerning Sarepta Therapeutics’ discussions with the U.S. Food and Drug Administration (“FDA) related to Sarepta Therapeutics’ planned New Drug Application (“NDA”) submission for approval of Eteplirsen for the treatment of Duchenne muscular dystrophy. According to Sarepta Therapeutics, following a Pre-NDA meeting in September 2014, the FDA provided updated guidance regarding the specific data to be included as part of, or at the time of, Sarepta Therapeutics’ NDA submission, stating that additional data are required as part of the NDA submission, including the results from an independent assessment of dystrophin images and the 168-week clinical data from study 202.
Sarepta Therapeutics also said that in addition, the guidance requests more specific data, including a minimum duration of safety in new patients exposed to eteplirsen, patient-level natural history data to be obtained by Sarepta from independent academic institutions, and MRI data from a recent study conducted by an independent academic group. Sarepta Therapeutics said that as part of an NDA submission, the FDA is further requesting, among other things that three-month data from at least 12 to 24 newly exposed patients at the time the NDA is submitted, that available data from the other patients enrolled in the new eteplirsen studies (studies 301, 203, 204), even if exposure is less than 3 months in duration, and that additional data from later time points and from newly enrolled patients, submitted in the 120-Day Safety Update.
On October 27, 2014, Sarepta Therapeutics Inc shares declined to as low as $14.74 per share.
On November 17, 2014, NASDAQ:SRPT shares closed at $15.34 per share.
Those who purchased shares of Sarepta Therapeutics Inc (NASDAQ:SRPT) have certain options and should contact the Shareholders Foundation.
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