Sarepta Therapeutics, Inc. (NASDAQ: SRPT), a developer of innovative
RNA-based therapeutics, announced today that John Hodgman, a member of
Sarepta's board of directors, has been named interim chairman, effective
July 30, 2014. William Goolsbee, chairman of the company's board of
directors, has resigned as chairman and will continue to serve on the
Sarepta board as an independent director. The company's board of
directors also announced that it fully supports Sarepta president and
chief executive officer Chris Garabedian to lead the company as it
advances its lead program eteplirsen for Duchenne muscular dystrophy.
"John brings a wealth of operational expertise to his role as interim
chairman of Sarepta, drawing upon his experience as chief financial
officer of Intermune and many years of serving in senior leadership
positions, including as Chairman and CEO of public companies, within the
industry," said Chris Garabedian, president and chief executive officer
of Sarepta Therapeutics. "John will be a great asset to Sarepta as we
prepare for the submission of a New Drug Application to the U.S. Food
and Drug Administration for eteplirsen for the treatment of Duchenne
muscular dystrophy and its potential launch to the patients and families
in need of new treatment options."
"The company's primary goal is the submission of the eteplirsen New Drug
Application by the end of this year. We have full confidence in Chris
Garabedian to continue to provide strategic and operational leadership,
including driving Sarepta's clinical trial strategy as well as
management of our interactions with the FDA," commented Mr. Hodgman.
"I'm pleased to serve as interim chairman ad provide guidance to the
Sarepta team during the critical months ahead. I would like to thank
Bill for his leadership and contributions to the company's significant
growth and accomplishments throughout the past several years."
About Sarepta Therapeutics
Sarepta Therapeutics is focused on developing first-in-class RNA-based
therapeutics to improve and save the lives of people affected by serious
and life-threatening rare and infectious diseases. The Company's diverse
pipeline includes its lead program eteplirsen, for Duchenne muscular
dystrophy, as well as potential treatments for some of the world's most
lethal infectious diseases. Sarepta aims to build a leading, independent
biotech company dedicated to translating its RNA-based science into
transformational therapeutics for patients who face significant unmet
medical needs. For more information, please visit us at www.sarepta.com.
Forward-Looking Statements and Information
This press release contains forward-looking statements. These
forward-looking statements generally can be identified by the use of
words such as "believes or belief," "anticipates," "plans," "expects,"
"will," "intends," "potential," "possible," "advance" and similar
expressions. These forward-looking statements include statements about
the benefits of appointing John C. Hodgman as Interim Chairman of the
Board; the scope of Mr. Garabedian's ongoing responsibilities and the
Company's plans to file an NDA by end of year.
Each forward-looking statement contained in this press release is
subject to risks and uncertainties that could cause actual results to
differ materially from those expressed or implied by such statement.
Applicable risks and uncertainties include, among others: the Company
and its leadership may not be able to execute their business plans for a
variety of reasons, including regulatory and administrative decisions
and the Company may not be able to file a New Drug Application for
Eteplirsen by end of year for a variety of reasons including that
Company may not be able to comply with all FDA requests and the results
of the Company's ongoing Phase IIb study may not be consistent with past
study results; and those risks identified under the heading "Risk
Factors" in Sarepta's Quarterly Report on Form 10-Q for the quarter
ended March 31, 2014, and filed with the Securities and Exchange
Commission, and Sarepta's other filings with the SEC.
Any of the foregoing risks could materially and adversely affect
Sarepta's business, results of operations and the trading price of
Sarepta's common stock. For a detailed description of risks and
uncertainties Sarepta faces, you are encouraged to review the Company's
filings with the Securities and Exchange Commission. We caution
investors not to place considerable reliance on the forward-looking
statements contained in this presentation. Sarepta does not undertake
any obligation to publicly update its forward-looking statements based
on events or circumstances after the date hereof.
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