Sarepta Therapeutics Inc (NASDAQ:SRPT) is walking away from a three-year licensing pact for a rare disease gene therapy candidate, leaving its former partner on its own as it prepares for a pivotal readout in mid-year.

• According to Lysogene, Sarepta returned the global commercial rights for LYS-SAF302 after “unsuccessful discussions for transferring back to Lysogene the responsibility for the global commercial supply of LYS-SAF302.”
• Sarepta paid Lysogene $15 million for ex-Europe rights to a gene therapy against the neurodegenerative lysosomal storage disorder mucopolysaccharidosis type IIIA in 2018. 
• The deal included up to $125 million in milestones.
• Paris-based Lysogene expects to have data from the study around the middle of the year. 
• In a statement, Lysogene said the termination follows unsuccessful discussions about the transfer of the responsibility for global commercial supply. 
• Sarepta took on responsibility for producing the gene therapy, including in Lysogene’s territory, as part of the 2018 deal. 
• According to Lysogene, the partners then discussed Sarepta returning the supply responsibility but disagreed.
• Price Action: SRPT shares are down 0.65% at $73.47 during the market session on the last check Thursday.