Press release
Sarepta Therapeutics Announces Second Quarter 2024 Financial Results and Recent Corporate Developments
Net product revenues for the second quarter 2024 totaled $360.5 million, a 51% increase over the same quarter of the prior year ELEVIDYS net product revenue
About this update from Sarepta Therapeutics, Inc.
[{"type":"text","content":"\n\nNet product revenues for the second quarter 2024 totaled $360.5 million, a 51% increase over the same quarter of the prior year\n\n\n\nELEVIDYS net product revenue for the quarter totaled $121.7 million; Royalty revenue from the sales of ELEVIDYS by Roche for the quarter totaled $2.4 million\n\n\n\nAchieved GAAP net income of $6.5 million for the second quarter 2024 and non-GAAP net income of $46.7 million for the same period\n\n\n\nSarepta provides net product revenues guidance of $2.9 billion to $3.1 billion for 2025\n\n\n\n CAMBRIDGE, Mass.--(BUSINESS WIRE)--\nSarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision genetic medicine for rare diseases, today reported financial results for the second quarter 2024.\n\n\n“The second quarter of 2024 represents the most significant achievement in the advancement of medicine for Duchenne since researchers identified that lack of dystrophin was the underlying cause of Duchenne in 1986. Based on a wealth of compelling clinical evidence, the FDA broadened access to our gene therapy ELEVIDYS for all patients at least 4 years of age, with a traditional approval for ambulatory patients and accelerated approval for all non-ambulatory patients. We look forward to reviewing the comprehensive data supporting the safety and efficacy of ELEVIDYS at the 29th Annual Congress of the World Muscle Society taking place in October, including muscle and cardiac MRI data and other biomarker results showing improvement in muscle health of treated patients,” said Doug Ingram, president and chief executive officer, Sarepta Therapeutics. “Sarepta is second to no other organization in the world in its ability to launch Duchenne therapies and support the community with education, access and reimbursement. We were well prepared for all aspects of this broadened launch and all signals thus far exceed even our optimistic expectations. To that point, second quarter total net product revenues across our four approved therapies were $360.5 million, a 51% increase over the same quarter last year. Our PMO products - EXONDYS 51, VYONDYS 53 and AMONDYS 45 - continue to perform, contributing $238.8 million in net product revenues. ELEVIDYS achieved $121.7 million in net product revenue, which positions us well for significant growth in the latter half of 2024 as families complete the 3-to-5-month process fr...