Sarepta Therapeutics announced the completion of the rolling submission of an NDA for its Duchenne muscular dystrophy (DMD) candidate, Eteplirsen, to the FDA.
The company also said it entered into a credit and security agreement with Midcap Financial to procure up to $40 million in debt financing.
The senior secured term loan facility, which matures in Jun 2018, carries an annual interest rate of 7.75%. Sarepta informed that it has already raised $20 million under the facility.