** Sarepta Therapeutics' shares rise 7% to 2-month high of $140.10
** Company on Wednesday reported Q1 revenue of $413.5 mln vs est $377.8 mln - LSEG
** Company said U.S. FDA will provide it with a draft label for its gene therapy Elevidys - for a type of muscle wasting disorder - sooner than previously indicated, ahead of the regulator's decision to expand the patient population for the therapy
** FDA's target action date for Elevidys is June 21
** Brokerage BMO Capital Markets believes FDA's decision on Elevidys "will likely be announced by ~early June"
** YTD, stock up 47.1%
(Reporting by Puyaan Singh)
((Puyaan.Singh@thomsonreuters.com))
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