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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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Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • 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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Tim Beyers
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Tim Beyers first began writing for the Fool in 2003. Today, he's an analyst for Motley Fool Rule Breakers and Motley Fool Supernova. At Fool.com, he covers disruptive ideas in technology and entertainment, though you'll most often find him writing and talking about the business of comics. Find him online at timbeyers.me or send email to tbeyers@fool.com. For more insights, follow Tim on Google+ and Twitter.

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7/29/2015 3:59 PM
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