• Sarepta Therapeutics Inc (NASDAQ: SRPT) notified Codiak BioSciences Inc (NASDAQ: CDAK) that it would terminate the two-year Research License and Option agreement early.

  • The termination will be effective as of December 3, 2021. The agreement focused on using exosomes for non-viral delivery of AAV, gene-editing, and RNA therapeutics to address five agreed targets associated with neuromuscular diseases.

  • Under the agreement terms, Codiak received $10.0 million, consisting of a $7.0 million up-front payment and a $3.0 million up-front research services prepayment.

  • As a result of the termination, each of the licenses and options granted to Sarepta shall terminate in its entirety, Codiak shall regain all rights previously granted to Sarepta.

  • Price Action: CDAK shares are down 9.84% at $14.21, and SRPT shares are up 1.76% at $96.64 during the market session on the last check Friday.

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