Sarepta Offers Long-Term Outline for Consolidation of Facilities in Massachusetts

Sarepta Therapeutics, Inc. (NASDAQ: SRPT), a developer of innovative RNA-targeted therapeutics, today announced a long term plan to move all of the Company's operations to Massachusetts, as part of a strategic plan to increase operational efficiency. Over the course of the year, the Company plans to close their facility in Corvallis, Oregon, which primarily focused on early-stage research and research manufacturing. As part of the consolidation, research activities and some employees will transition to Sarepta facilities in Andover and Cambridge, Massachusetts. "For a biotechnology company of our size and stage of development, it is operationally important to centralize our facilities and focus our efforts on the R&D, manufacturing, and pre-commercialization of eteplirsen," said Edward Kaye, Sarepta's interim chief executive officer and chief medical officer. "To that end, we will consolidate operations to Massachusetts over the coming year to optimize the efficiency of our R&D and manufacturing teams." The consolidation efforts are planned to occur in four waves – in May, October, November, and December of this year – with an estimated completion date of December 30, 2016. Sarepta Therapeutics has not received formal notification of a rescheduled date for the Peripheral and Central Nervous System Advisory Committee Meeting to review eteplirsen, but anticipates that it will be scheduled prior to the May 26, 2016 PDUFA date.