Sarepta Gains From Vertex Info, Teva Buys Rexahn Stock: Healthcare Business Wrap
Shares of Sarepta Therapeutics (SRPT) gained more than 5 percent on the day following Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) including in-depth information in regards to Sarepta’s treatment for Duchenne Muscular Dystrophy in an online slide presentation, through which Vertex describes how Sarepta’s Eteplirsen treatment works. Vertex added that the drug has “demonstrated a broadly favorable safety and tolerability profile and restoration of dystrophin protein expression.”
Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >
In a Wednesday release, Rexahn Pharmaceuticals (AMEX:RNN) announced that it will receive additional funding from Teva Pharmaceutical Industries Limited (NYSE:TEVA) through the terms of its Securities Purchase Agreement, which states that the latter will invest $750,000 to acquire Rexahn’s common stock at 120 percent of the closing price of common stock on the last trading day preceding the closing. This will finalize the third closing agreed to by the parties through the Securities Purchase Agreement.