Baird analyst Brian Skorney notes that an article by STAT News alleges that insiders at the FDA were initially planning to reject the filing for Sarepta’s SRP-9001 before CBER director Peter Marks intervened and suggested an advisory committee meeting be held. While "this does create some drama" around the May 12 advisory meeting, the firm thinks Marks’ support "ultimately favors the odds of accelerated approval going through" and regardless of the May PDUFA outcome the firm still views the EMBARK trial "as the ultimate arbiter of the commercial potential for SRP-9001." Baird has an Outperform rating and $202 price target on Sarepta shares, which are down $8.08, or 6%, to $129.60 in morning trading.
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