Sarepta Therapeutics, Inc. raised $345.0 million in its follow-on offering at $59.75 per share. Needham acted as a co-manager on the transaction. The Company’s underwriters fully exercised their option to purchase an additional 753,138 shares of common stock at the follow-on offering price to cover over-allotments. The net proceeds from the sale of the shares from the offering will be used by Sarepta Therapeutics, Inc. principally for the continuation and initiation of further clinical trials, commercialization, manufacturing, business development activities including the potential licensing or acquisition of complementary products and technologies and other general corporate purposes.
Sarepta Therapeutics (NASDAQ: SRPT) is a biopharmaceutical company focused on the discovery and development of unique RNA-targeted therapeutics for the treatment of rare neuromuscular diseases. The Company is primarily focused on rapidly advancing the development of its potentially disease-modifying DMD drug candidates, including EXONDYS 51, designed to skip exon 51 and approved under the accelerated approval pathway.