Sarepta Therapeutics CFO Replaces Chief Accounting Officer

Sandesh Mahatme has replaced Tony Martignetti as Sarepta Therapeutics' (NASDAQ: SRPT  ) chief accounting officer, the biotech said in a late Friday 8-K filing with the SEC. He will also remain as Serapta's chief financial officer.

Mahate joined Sarepta, a biotech specializing in therapies for genetic disorders such as Duchenne muscular dystrophy, last November from Celgene.

Martignetti's LinkedIn profile shows he'd been at Sarepta since September 2012. He joined the company after three years as managing partner at a real estate company and, before that, 1.5 years in commercial finance at Vertex Pharmaceuticals.

More than 37% of Sarepta's shares were sold short as of Oct. 1, making it one of the Nasdaq's five-most shorted stocks.

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  • Report this Comment On October 07, 2013, at 7:19 AM, EllenBrandtPhD wrote:

    Tim,

    If you've been following the company and the stock closely, this is a Bullish, not a Bearish, move.

    One of the company's needs right now is managing accounting in a manufacturing environment - i.e. looking forward to product approvals - which is one of Mr. Mahatme's areas of expertise.

    And - most significantly - Mr. Mahatme was the financial person among the four Insiders who bought big blocks of stock on the open market - i.e. not via options - over the past few weeks. (The other three were research people.)

    Follow the dotted line.

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