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news.Sarepta has entered into an At-the-Market (ATM) equity offering sales agreement to offer and sell stakes of its common stock which has an average value of about $125m through Further Lane.
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Sales proceeds from the offering will be used by Sarepta for general corporate purposes, such as manufacturing scale up for eteplirsen.
Additionally, it also intends to use the gains for the planned confirmatory Phase III clinical study of eteplirsen and early development activities related to follow-on Duchenne muscular dystrophy drugs and other programs.
Under the agreement, sales of common stock, if any, through Further Lane, will be made by means of ordinary brokers’ transactions, in privately negotiated transactions, orat market prices prevailing at the time of sales.
The common stock will be provided under the company’s existing shelf registration statement which is effectively filed with the Securities and Exchange Commission.