Sarepta Therap (SRPT) Tops Q1 EPS by 21c
Sarepta Therap (NASDAQ: SRPT) reported Q1 EPS of ($0.41), $0.21 better than the analyst estimate of ($0.62). Revenue for the quarter came in at $4.5 million versus the consensus estimate of $5.85 million.
Sarepta had cash, cash equivalents and invested cash of $175.2 million as of March 31, 2013 compared to $187.7 million as of December 31, 2012, a decrease of $12.5 million. The cash was used to fund our ongoing operations in the first quarter of 2013.
"We are encouraged by our initial interactions with the U.S. Food and Drug Administration regarding a potential accelerated approval regulatory path for eteplirsen for the treatment of Duchenne muscular dystrophy, and we are finalizing a response to the FDA's request for more data to help us determine the feasibility of this pathway," said Chris Garabedian, president and chief executive officer of Sarepta Therapeutics. "In parallel, we continue to advance the clinical, regulatory, and manufacturing activities for eteplirsen and our additional DMD product candidates to build a successful franchise in this important disease area."
Sarepta said documents requested by FDA for accelerated approval consideration of Eteplirsen will be submitted this month.
For earnings history and earnings-related data on Sarepta Therap (SRPT) click here.
Sarepta had cash, cash equivalents and invested cash of $175.2 million as of March 31, 2013 compared to $187.7 million as of December 31, 2012, a decrease of $12.5 million. The cash was used to fund our ongoing operations in the first quarter of 2013.
"We are encouraged by our initial interactions with the U.S. Food and Drug Administration regarding a potential accelerated approval regulatory path for eteplirsen for the treatment of Duchenne muscular dystrophy, and we are finalizing a response to the FDA's request for more data to help us determine the feasibility of this pathway," said Chris Garabedian, president and chief executive officer of Sarepta Therapeutics. "In parallel, we continue to advance the clinical, regulatory, and manufacturing activities for eteplirsen and our additional DMD product candidates to build a successful franchise in this important disease area."
Sarepta said documents requested by FDA for accelerated approval consideration of Eteplirsen will be submitted this month.
For earnings history and earnings-related data on Sarepta Therap (SRPT) click here.