Morgan Stanley notes STAT News’ report yesterday that a group of reviewers at the FDA did not want to approve SRP-9001 and that Peter Marks stepped in and scheduled an advisory committee meeting, or AdCom. Following STAT’s report, the analyst does not find tension among FDA staff surprising and "would expect it throughout the review process." However, the firm expects a supportive AdCom based on the evidence supporting the surrogate endpoint and while it continues to expect volatility through then, Morgan Stanley expects "ultimate approval" for SRP-9001. The firm has an Overweight rating and $183 price target on Sarepta shares.
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