SUBSEQUENT EVENT

3 Months Ended

Mar. 31, 2016

Subsequent Events [Abstract]

SUBSEQUENT EVENT

11. SUBSEQUENT EVENT

On April 29, 2016, the Patent Trial and Appeal Board (the “PTAB”) of the United States Patent and Trademark Office (“USPTO”) entered a judgment on the motions to end Interference No. 106,007 between U.S. Patent No. 8,455,636 held by the Company (under license from the University of Western Australia) and U.S. Application No. 11/233,495 held by BioMarin Pharmaceutical, Inc. (“BioMarin”) (under license from Academisch Ziekenhuis Leiden) related to exon 53 skipping therapies, including SRP-4053, designed to treat DMD. The PTAB ordered: (i) the final refusal of all claims of BioMarin’s U.S. Application No. 11/233,495, with the exception of claim 77; and (ii) cancellation of all claims in the Company’s U.S. Patent No. 8,455,636, in each case based on its decision of various motions. Notably, the PTAB granted the Company’s motion, with exception to claim 77, asserting that BioMarin’s claims in U.S. Application No. 11/233,495 are unpatentable as not being supported by an adequate written description and are not enabled. The PTAB denied the Company’s motion filed in November 2014 requesting the declaration of a fourth interference relating to certain methods concerning the exon 53 skipping therapies that are the subject of this Interference No. 106,007, including SRP-4053, and between the Company’s U.S. Patent No. 8,455,636 and BioMarin’s U.S. Application No. 14/248,279.  In addition, the PTAB granted BioMarin’s motions asserting that the Company’s claims in U.S. Patent No. 8,455,636 are unpatentable as being obvious in view of certain prior art or as claiming unpatentable subject matter.  The PTAB denied BioMarin’s motion to add two additional claims to its U.S. Application No. 11/233,495.  This judgment of the PTAB is subject to appeal.