BofA expects no impact to Sarepta from Dunn’s departure from FDA

Following a news report that points to the resignation of FDA Neuroscience Director Billy Dunn, BofA analyst Tazeen Ahmad said the news appears to have lead to some weakness in Sarepta shares as investors likely debate the impact of the news on the review of SRP-9001, which has a PDUFA action date of May 29. After speaking to Sarepta management, the firm said they confirmed that the division of neuroscience has not been involved in the review of ‘9001, so they see no impact from Dunn’s reported departure. The firm, which remains confident in ‘9001’s approvability, maintains a Buy rating and $160 price target on Sarepta, which it calls its "top binary pick of the year."