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BUZZ-Sarepta news lifts other muscular distrophy stocks

** Companies developing muscular distrophy treatments, PTC (Taiwan OTC: 6489.TWO - news) Therapeutics and Summit Therapeutics (NasdaqGM: SMMT - news) had their shares boosted on Wednesday by positive regulatory news from a third firm in the same space, Sarepta Therapeutics (NasdaqGS: SRPT - news)

** PTC (NasdaqGS: PTC - news) shares rose as much as 7.2 percent during the session and were still up 5.9 percent at $54.11 around 3:00 pm EDT (1900 GMT)

** After paring gains, Summit's U.S. shares were up 6 percent after jumping as much as 12.3 percent earlier

** Sarepta said late Tuesday that it would begin "rolling submission" of marketing application for its experimental muscle disorder drug eteplirsen

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** "The news from Sarepta highlights regulatory flexibility even if data for the drug is preliminary," Oppenheimer & Co analyst Christopher Marai said

** Sarepta shares were up $10.84 or 66 percent at $27.24 in late afternoon trading