Why GE, Yahoo, and 3 Other Stocks Are Trending This Morning

Sarepta Therapeutics Rallies After FDA Requests Dystrophin Data

Sarepta Therapeutics Inc (NASDAQ:SRPT) is 36% higher in pre-market trading after the FDA requested that the company provide dystrophin data from biopsies obtained thus far from the company’s continuing confirmatory study of eteplirsen, as part of the agency’s ongoing evaluation of the NDA for the treatment. Sarepta Therapeutics Inc (NASDAQ:SRPT) plans to submit the requested data to the FDA over the next few weeks. Eteplirsen is Sarepta’s lead candidate for the potential treatment of duchenne muscular dystrophy. Sarepta’s stock has swung wildly up and down based on several perceived negative and positive events over the FDA’s potential decision regarding the drug. Sarepta shares are up in the pre-market today because traders perceive the FDA requesting more data as an indication that the probability of an approval might be better than the market previously expected.

Zillow Settles Litigation

Zillow Group, Inc.- Class C (NASDAQ:Z) shares are more than 10% higher in the pre-market after the company settled litigation started by Move Inc and several other parties for around $130 million. Move Inc had previously sued for $2 billion in damages because Zillow hired two former top Move executives, which might have been construed as trade secret theft. Zillow’s stock is up because the settlement doesn’t include any admission of liability or wrongdoing and might save the company money in the long run due to less legal fees. The number of elite funds in our database invested in Zillow Group, Inc.- Class C (NASDAQ:Z) fell by one quarter-over-quarter to 21 as of the end of the first quarter.

Disclosure: None