Sarepta Therapeutics Receives Stop-Work Order from US Department of Defense
On August 2, 2012, Sarepta Therapeutics (NASDAQ: SRPT) received a stop-work order from the U.S. Department of Defense with respect to the Ebola portion of the contract for Advanced Development of Hemorrhagic Fever Virus Therapeutics. The stop-work order stated that the action is being taken due to recently imposed funding constraints. The stop-work order does not apply to the Company's ongoing Marburg effort funded under the same contract. The stop-work order will remain in effect until September 1, 2012, and prior to that time the DoD will either: (1) terminate the Ebola portion of the contract; (2) cancel the stop-work order; or (3) extend the stop-work order period, if necessary.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.