Dr. Ron Farkas Leaves The FDA, Boosting Sarepta Shares: Here's Where You Could've Heard The News First
Sarepta Therapeutics Inc (NASDAQ: SRPT) shares are up more than 20 percent today. So what exactly is boosting the stock to levels it hasn't seen since January?
On Tuesday night, Jenn McNary, a mother of two children suffering from Duchenne muscular dystrophy, Tweeted that Dr. Ron Farkas, a Food & Drug Administration official who opposed Sarepta's treatment for the condition with a drug called eteplirsen, was no longer with the FDA.
Benzinga Pro confirmed later that evening that the Silver Springs, Maryland FDA office no longer listed Dr. Ronald Farkas in its directory.
On Wednesday morning, an FDA spokesperson confirmed to Benzinga that Dr. Farkas' last day was Friday, September 9.
Farkas had been critical of trial methods Sarepta used to test eteplirsen, and his departure could pose a tremendous upside for the drugmaker, as a potential obstacle to FDA approval for eteplirsen has been removed.
While the rumor of Dr. Farkas' departure surfaced after-hours on Twitter Tuesday, Benzinga Pro was the first to confirm the news. Some major news wires did not immediately report on the FDA's confirmation this morning, while Benzinga had been reporting on the news since the previous evening.
For more information on how to get market-moving exclusives or to get started with a free trial, head to the Benzinga Pro site or call 877-440-9464.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.