BUZZ-Sarepta rises after Q1 revenue beats estimates

Reuters05-02

** 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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