Sarepta Therapeutics (SRPT) Tops Q4 EPS by 29c, Revenues Beat

Sarepta Therapeutics (NASDAQ: SRPT) reported Q4 EPS of ($1.57), $0.29 better than the analyst estimate of ($1.86). Revenue for the quarter came in at $100.11 million versus the consensus estimate of $98.85 million.

“The Sarepta team made great progress in service of our vision to be one of the world’s most meaningful leaders in precision genetic medicine in 2019, and profoundly so in the fourth quarter,” stated Doug Ingram, Sarepta’s President and Chief Executive Officer. “We continued to serve the Duchenne community with EXONDYS 51, achieving revenue of $100 million in the fourth quarter and $381 million for full year 2019, a 26% increase over prior year. With our RNA platform, we also received approval and launched our second RNA therapy, VYONDYS 53, advanced our third RNA therapy, casimersen, to a rolling submission, and continued our multi-ascending dose study for our next-generation RNA technology, PPMO.”

Mr. Ingram continued, “We progressed our gene therapy programs such as LGMD2E and MPS IIIA, and significantly advanced our lead gene therapy program, SRP-9001, intended to use micro-dystrophin to treat Duchenne muscular dystrophy. We have now dosed all patients in our blinded, placebo-controlled trial, Study 102, and are preparing to commence Study 301, our next placebo-controlled trial using commercial process material. And importantly, in the fourth quarter we entered into our alliance with Roche, which not only gives us a very strong balance sheet to execute our plans but also, assuming the success of SRP-9001, accelerates our mission to bring a potentially life-enhancing therapy to Duchenne patients around the world.”

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

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