What You Need To Know: Sarepta Therapeutics Inc (SRPT), LinkedIn Corp (LNKD), TIM Participacoes SA (ADR) (TSU)

The FDA has clarified its position on Sarepta Therapeutics Inc (NASDAQ:SRPT)’s investigation drug known as eteplirsen. The agency first stated that it observed that the method used by Sarepta in the trial of eteplirsen to analyze some data was not enough to support a new drug application. As such, it offered the company proper recommendation about improving the analyses.

Additionally, the FDA stated its willingness to conduct what it termed as “rolling review” of eteplirsen when the required data is eventually submitted. Investors have speculated that the said “rolling review” suggests eteplirsen’s potential to address unmet medical need. Such could lead to speeded approval and commercialization of the drug.

Sarepta Therapeutics Inc (NASDAQ:SRPT) is offering eteplirsen for a condition known as Duchenne muscular dystrophy (DMD).

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The fact that LinkedIn Corp (NYSE:LNKD) grew its membership numbers in 3Q was enough to excite the market even though the company posted a wider loss than last year. The career networking company added more subscribers in the quarter, and even its revenue jumped alongside the user gains. The company generated revenue of $568 million, which was above $393 million during the same quarter a year ago. The revenue figure also smashed the consensus estimate by $11 million.

However, LinkedIn Corp (NYSE:LNKD) posted a loss of $4.3 million or $0.03 per share, which was worst that the loss of $3.4 million in the like quarter last year. The company has also guided narrowly for the current quarter. It expects revenue in the band of $600-$605 million, slightly behind what analysts are expecting for the quarter.

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At least three companies have been reported as jointly targeting TIM Participacoes SA (ADR) (NYSE:TSU) for a buyout. About $13.1 billion could change hands in the buyout of the struggling Brazilian unit of Telecom Italia. The companies mentioned in connection with the buyout are America Movil SAB de CV (ADR), (NYSE:AMX), Grupo Oi SA and Telefonica S.A. (ADR) (NYSE:TEF).

The said potential buyers expect the acquisition of TIM Participacoes SA (ADR) (NYSE:TSU) to boost their fortunes in the stagnant and crowded Brazilian telecom market. They will also harvest high-quality assets.

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About the Author

Terrel is US Markets Daily's business news reporter. She joined US Markets Daily after five years as a print reporter.

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