Just one day after the stock collapsed on rumors that the FDA hated them and was going to decline their application to have their muscular dystrophy drug approved, shares are, seemingly, effervescent today–fully and without requital, offering up primordial treatment to all those saddled in a large short position.
Commiserate with the traditions of biotech hazards, the charade of equanimity within the healthcare field has once again been shattered. As such, traders have been upbraided in a Banana Republic like condition–one wrought with rusticate milk sops running in and out of bankruptcy courts–finaglers left in ruins from the theatricalities of an industry bereft of decency and decorum.
RBA notes on the SRPT spike:
RBC noes the FDA has just posted 5 voting questions and explanatory discussion points ahead of Monday’s eteplirsen panel. They view the fact that panel members will have to vote on Monday as an incremental positive for SRPT, simply because of the understandable pressure committee members will be under, in the presence of the DMD community and families. However, the questions should leave little room for interpretation: Despite that view, when they read through the actual questions and the language of the accompanying discussion, they see a document with the exact same tone and tenor as the January and April briefing documents. The questions and the discussion ask the panelists to focus on the trial conduct, the evidence for dystrophin and clinical efficacy. They expect the answer to all of these to be No.
Shares of SRPT are higher by 40%.
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