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Biotech / Medical : Immunomedics (IMMU) - moderated
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To: luckydog88 who wrote (63042)3/20/2025 7:59:22 PM
From: stockdoc7710 Recommendations

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SRPT is still over 10% of my portfolio. Less so than before due to the price drop. The company is doing 750 million in sales this quarter and has a market cap of 7 billion. My other holding of VRNA just launched their COPD drug and did 36 million in sales in Q4 and have a market cap of 8 billion. SRPT is dramatically undervalued by the market. There is some strange perception that DMD kids will not want the gene therapy or that Medicaid and other insurers will not pay for it in the older kids that are in wheelchairs. Both ideas are ridiculous. How would any mom not want this gene therapy that will at least stabilize the disease and prevent progression? For the younger kids that are still running and moving its a no brainer. Roche should get approval for selling this in Europe this year, and that means royalties to SRPT. SRPT also has a gene therapy for limb girdle muscular dystrophy about to read out a P3, and I am very confident that will succeed. The company also bought a portfolio of RNA silencer treatments from Arrowhead that are very intriguing for long term growth. The stock should be at 400 dollars and a 40 billion market cap.
The news that hit the stock was that a child died. Apparently the child had a recent CMV viral infection which can affect the liver. These kids all take prednisone which suppresses the immune system. This child was older, 16 yo, and no longer ambulatory. Apparently developed liver failure several weeks after the gene therapy. The company is responding by screening patients for active or recent CMV infection before gene therapy. That should likely be enough. The big picture is we give drugs to patients all the time that can kill them, but we do so because we have no better alternative. I've seen lots of patients die from chemotherapy related toxicity, but that doesnt stop us using chemo. The anti TNF monoclonals for IBD can lead to lethal infections in rare cases, but we still use the drug. For SRPT, they have treated 800 kids with gene therapy and have had one mortality. Given that the disease is horrendous, relentless and kills children, why would anyone think this one event should be a negative for the treatment of DMD with gene therapy?
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