Press release
Sarepta Therapeutics Announces Third Quarter 2019 Financial Results and Recent Corporate Developments
CAMBRIDGE, Mass., Nov. 07, 2019 (GLOBE NEWSWIRE) -- Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision genetic medicine for rare diseases,
About this update from Sarepta Therapeutics, Inc.
[{"type":"text","content":"CAMBRIDGE, Mass., Nov. 07, 2019 (GLOBE NEWSWIRE) -- Sarepta Therapeutics, Inc. (NASDAQ:SRPT), the leader in precision genetic medicine for rare diseases, today reported financial results for the third quarter of 2019.\n “EXONDYS 51® (eteplirsen) enjoyed another strong quarter, with third quarter 2019 revenues of $99.0 million, a 26% increase over the same quarter in 2018. Based on current performance, we have raised our full-year 2019 guidance from a range of $365 to $375 million to $370 to $380 million,” stated Doug Ingram, Sarepta’s President and CEO. Mr. Ingram continued, “We have also made significant progress advancing our gene therapy platform. In the quarter, we increased the study enrollment size of our current double-blind, placebo-controlled trial, significantly increasing study power. We are now actively screening and dosing patients at two sites, with the goal of completing all dosing by year end. We have also made progress on gene therapy manufacturing capacity, analytical development and process development and remain on track to initiate our next trial, using commercial process supply, by mid-2020. We also announced positive nine-month functional results from a cohort of three limb-girdle muscular dystrophy Type 2E clinical trial participants who received our investigational gene therapy candidate, SRP-9003. As reported at the World Muscle Conference in Copenhagen on October 5th, at Day 270 all three participants showed improvements from baseline across all functional measures, including the modified NSAA, time to rise, four-stair climb, 100-meter walk test and 10-meter walk test, and no new safety signals were observed.” Mr. Ingram concluded, “While not without its challenges, 2019 has been one marked by a significant advancement of our platform. We continued to exceed revenue expectations, built our pipeline and advanced our programs, reported additional positive and validating clinical data, advanced our manufacturing strategy, and expanded and enhanced the expertise of our team of Sarepta employees. Through these efforts we have taken great strides toward our goal to be among the world’s leaders in genetic medicine for those with life-limiting and too often life-ending rare diseases.” Conference CallThe Company will be hosting a conference call at 4:30 p.m. Eastern Time to discuss Sarepta’s financial results a...