Boston, MA 05/23/2014 (wallstreetpr) – Sarepta Therapeutics Inc (NASDAQ:SRPT) looks forward to a busy year in 2015 when it expects several of its experimental drugs to get the commercialization approval. In preparing for a potential big demand for its drugs, the company is scaling up capacity.
It announced entering a deal to acquire a manufacturing facility that stands on a 26-acre land in Massachusetts for $25 million. The quoted money includes cost of upgrading the facility. The drug maker did not disclose the exact location of the facility that it intends to convert into a manufacturing unit.
The transaction to acquire the new manufacturing plant is expected to close sometime in July this year, and that is when the company might reveal the currently withheld details about the facility.
A rich product pipeline
Sarepta Therapeutics Inc (NASDAQ:SRPT) has a rich product pipeline that mostly target treatment of Duchenne muscular dystrophy, muscle degeneration that is common in young men and boys. The company believes that its experimental drugs are able to address up to half of the Duchenne muscular dystrophy condition if approved by the regulator.
The company’s lead drug candidate for Duchenne muscular dystrophy is eteplirsen, a therapy that the U.S. Food and Drug Administration has of late, become positive about despite earlier skepticism.
Sarepta Therapeutics has about eight drug candidates in the Duchenne muscular dystrophy treatment pipeline that it hopes will win regulatory approval and hence, the preparation ahead of time to enhance the capacity.
Financial performance
Sarepta Therapeutics released its 1Q2014 financial results on May 8, during which the company posted a net loss of 75 cents per share, better than 80 cents per share that analysts estimated for the quarter. Its revenue soared to $6.09 million, ahead of the consensus estimate at $3.45 million. Revenue was up 36 percent over the previous year’s figure.
Sarepta Therapeutics Inc (NASDAQ:SRPT) to Cambridge from Seattle last year and it has a network of contract manufacturers across the U.S. with a notably small plant in Oregon.
