Sarepta Therapeutics negotiates $40 million at-the-market equity sale

Deal conducted by Citadel Securities; sale funds corporate purposes

By Devika Patel

Knoxville, Tenn., Sept. 4 - Sarepta Therapeutics, Inc. could raise up to $40 million in an at-the-market equity offering, according to a prospectus supplement filed Tuesday with the Securities and Exchange Commission. The offering was negotiated with agent Citadel Securities LLC Aug. 9.

The sales will be made on a commercially reasonable efforts basis.

Citadel will be paid a 3% commission.

Proceeds will be used for general corporate purposes, including the continued development of eteplirsen and other product candidates.

Based in Cambridge, Mass., Sarepta is developing RNA-based therapeutics for rare and infectious diseases.

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