Sarepta Stock Sinks After Announcing a Stock Sale. It’s the Latest ‘Bad’ News.

 Sarepta Stock Sinks After Announcing a Stock Sale. It’s the Latest ‘Bad’ News.

Sarepta Therapeutics stock is falling after the biotech company said it would sell more stock and offered guidance that was below analyst forecasts.

Sarepta said that it would post third-quarter sales of $166.9 million, below expectations for $167.73 million. That revelation came as the company said it would sell $500 million in stock, revealing that it had $1.6 billion in cash on hand on Sept. 30, down from $1.9 billion on Dec. 31, 2020. Sarepta stock gained 4.1% in regular trading hours Tuesday.

The…

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