Sarepta CEO: $125 Million Offering Demand Was Strong
On partnering:
"We're getting a lot of interest in this program... but we don't need to partner. We expect a partner to be flexible and give us the structure that we're looking for. It's hard to time a potential deal or if one will happen, but with the financing, we are in a strong negotiating position."
[Garabedian also confirmed that if Sarepta does a deal, it will more than likely be an ex-U.S. partnership that encompasses the company's entire exon-skipping drug program.]
"We're not taking [eteplirsen] off the table but a potential partner has to buy into the reproducibility of the eteplirsen data for the follow-on exon-skipping programs... We believe eteplirsen significantly de-risks the development of follow-on exon-skipping drugs and makes the entire program highly leverageable. A partner has to buy into that and bring the right economic terms to the table."
On future disclosure of additional eteplirsen data: "We're right now figuring out how to communicate expectations for 2013. The JP Morgan conference will likely be the venue where I tell investors what to expect from us in 2013. Right now, we're not giving any guidance on if 74-week eteplirsen data will be shared. [Garabedian will speak to investors at the JP Morgan Healthcare Conference on Weds. Jan. 9.] On being nominated for the Best Biotech CEO of 2012 award: "I was humbled, especially since my mentor John Martin [Gilead Sciences' (GILD) CEO] is on the list, too. It was a heady experience for me to be mentioned alongside him." On being told that he's not likely to win the Best Biotech CEO of 2012 award: "Like they say at the Academy Awards, it's an honor just to be nominated." -- Reported by Adam Feuerstein in Boston. Follow @AdamFeuersteinSelect the service that is right for you!
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