Sarepta news opens door for Regenxbio over risk/benefit profile, says Leerink

Leerink reiterated an Outperform rating and $24 price target on Regenxbio (RGNX) after Sarepta (SRPT) announced a Duchenne muscular dystrophy patient treated with Elevidys has died from acute liver failure. While the firm does not see this news impacting the total addressable market for DMD, the event further opens the door for Regenxbio to differentiate their risk/benefit profile, the analyst tells investors in a research note. The firm said this view is based on encouraging efficacy to date, the use of a different adeno-associated virus capsid and transgene versus Elevidys, and a clean safety profile to date, with no drug-induced liver injury reported in the 11 patients treated so far.

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