STAT October 31, 2023
Good morning, all. Damian here with disappointing news on a closely watched gene therapy, an interesting deal in genome editing, and the long shadow of biotech’s slump.
The need-to-know this morning
• Shares of Sarepta Therapeutics are down 40% in pre-market trading, following disappointing results from a confirmatory study of its gene therapy for Duchenne muscular dystrophy announced late yesterday.
• Amgen reported third-quarter adjusted earnings of $4.96 per share, better than the analyst consensus. Revenue rose 4% year over year to $6.9 billion, in-line with consensus. The company slightly raised its earnings and revenue guidance for the remainder of the year.
• Pfizer posted a third-quarter adjusted loss of 17 cents per share, impacted by $5.6 billion non-cash inventory write-offs and other...
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