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Sarepta Therapeutics (SRPT) Tops Q2 EPS by 25c, Revenues Beat

August 5, 2020 4:41 PM EDT

Sarepta Therapeutics (NASDAQ: SRPT) reported Q2 EPS of ($1.51), $0.25 better than the analyst estimate of ($1.76). Revenue for the quarter came in at $137.36 million versus the consensus estimate of $117.13 million.

“I am pleased to report that, notwithstanding the distracting nature of the COVID-19 pandemic, Sarepta has continued to serve our patient community, achieving net product sales of $111.3 million, an 18% increase over the same quarter last year. And even as the majority of our workforce continued in a work-from-home environment, we have remained on mission and productive. We have already attained or remain on track to attain our many planned 2020 milestones, have deepened and extended the three pillars of our enduring gene therapy engine, and with additional data generated this year, continue to validate our unique and differentiated approach to building a gene therapy platform,” said Doug Ingram, Sarepta’s president and chief executive officer. “Regarding our RNA platform, in the second quarter we completed our rolling New Drug Application (NDA) for our third PMO candidate, casimersen and are on track to report the proof-of-concept results for our next-generation PPMO candidate in the second half of 2020. Regarding our gene therapy engine, we announced the publication of our positive one-year results for our first study of our gene therapy SRP-9001 to treat Duchenne muscular dystrophy (DMD), announced the positive expression and safety results for our high-dose cohort of LGMD2E patients treated with SRP-9003 and positive one-year functional results for our lower dose cohort treated with SRP- 9003, and are on track to commence our commercial process trial for SRP-9001 in the second half of 2020. We made great strides in gene therapy manufacturing this quarter, having now completed GMP runs for SRP-9001 using our commercial process, and commencing GMP runs for SRP-9003, to be completed by year end. And we entered into multiple partnerships to advance the science of gene therapy, including our agreements with Dyno Therapeutics, Selecta Biosciences, Codiak Biosciences and Hansa Biopharma.”

For earnings history and earnings-related data on Sarepta Therapeutics (SRPT) click here.



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