Latest Reports on Sarepta Therapeutics and Cempra as the NASDAQ Continues to Hit Record Highs

NEW YORK, NY / ACCESSWIRE / January 11, 2017 / The Nasdaq Composite Index has gained 2.76 percent over the first five trading session of the year, its best five day period to begin the year in a decade when the Nasdaq gained 5.14 percent over the first five days in 2006, according to a Dow Jones markets data group. A major reason for the Index’s rise in 2017 has been the year-to-date performance of the FANG stocks – Facebook (+8.08 percent), Amazon (+6.12 percent), Netflix (+4.9 percent) and Google/Alphabet Inc. (+4.23 percent).

On Tuesday, the Nasdaq Composite Index touched a new intraday record of 5,564.25, before settling to close at 5,551.82, up 3.13 percent year-to-date. The Nasdaq Composite Index has closed the year with a gain 22 out of the 30 times the Index rose in the first 5 trading sessions to begin a new year, according to a Dow Jones markets data group. Today’s reports on NASDAQ companies Cempra Inc. (NASDAQ: CEMP) and Sarepta Therapeutics Inc. (NASDAQ: SRPT).

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Sarepta Therapeutics’ shares soared 21.21 percent to close at $37.89 a share Tuesday. The stock traded between $27.84 and $39.36 on volume of 14.83 million shares traded. On January 10th, the company announced that it has entered a research and option agreement with Nationwide Children’s Hospital on their microdystrophin gene therapy program. The initial trial, expected to go into Phase 1/2a trial in late 2017, will be conducted at Nationwide Children’s. Parent Project Muscular Dystrophy (PPMD) has committed 2.2 million dollars to the trial, with support from additional Duchenne foundations and families.

“Given the complexities of Duchenne muscular dystrophy, we know that it is going to require multiple treatment approaches,” said Edward Kaye, Sarepta’s CEO. “With that goal in mind, we are excited to support clinical development for Nationwide’s gene therapy program with the goal to help all boys with DMD.”

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Cempra shares jumped 8.96 percent to close at $3.65 a share Tuesday. The stock traded between $3.40 and $3.70 on volume of 1.75 million shares traded. The company is scheduled to present at the 35th Annual J.P. Morgan Healthcare Conference at 3:30 p.m. PT (6:30 p.m. ET) on Wednesday, January 11, 2017 in San Francisco. On December 29th, Cempra announced that it has received a Complete Response Letter (CRL) from the U.S. Food and Drug Administration (FDA) denying the company’s approval for its new drug applications (NDAs) for oral and intravenous solithromycin for the treatment of community-acquired bacterial pneumonia (CABP) in adults.

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