CAMBRIDGE, Mass., July 24, 2017 (GLOBE NEWSWIRE) -- Sarepta Therapeutics, Inc. (NASDAQ:SRPT), a U.S. commercial-stage biopharmaceutical company focused on the discovery and development of unique RNA-targeted therapeutics for the treatment of rare neuromuscular diseases, today announced that it has priced an underwritten public offering of an aggregate of 7.65 million shares of its common stock at a price to the public of $42.50 per share. In addition, Sarepta has granted the underwriters a 30-day option to purchase up to approximately 1.15 million additional shares of its common stock on the same terms and conditions as the initial shares sold to the underwriters. Sarepta anticipates the gross proceeds from the offering, before deducting the underwriter discounts and commissions and other offering expenses, to be approximately $325 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on or about July 27, 2017, subject to customary closing conditions.
Goldman Sachs and Co. LLC and J.P. Morgan Securities LLC are acting as joint book-running managers of the proposed offering. Credit Suisse Securities (USA) LLC is also acting as a joint book-runner. Robert W. Baird & Co. Incorporated, Nomura Securities International, Inc. and William Blair & Company, L.L.C. are acting as co-managers.
Sarepta intends to use the net proceeds from the offering 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.
About Sarepta Therapeutics Sarepta Therapeutics is a U.S. commercial-stage 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 Duchenne muscular dystrophy (DMD) drug candidates.
