Press release
Sarepta Therapeutics Announces Third Quarter 2021 Financial Results and Recent Corporate Developments
Net product sales for the third quarter of 2021 reached $166.9 million, a 37% increase over the same quarter of prior yearIn light of its continued
About this update from Sarepta Therapeutics, Inc.
[{"type":"text","content":"Net product sales for the third quarter of 2021 reached $166.9 million, a 37% increase over the same quarter of prior yearIn light of its continued over-performance, Sarepta raises its full-year product revenue guidance by $40 million to between $605 million to $615 million CAMBRIDGE, Mass., Nov. 03, 2021 (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 2021. “We are pleased to report another quarter of strong performance serving the Duchenne community with our three currently approved therapies and on that basis have once again raised our full-year product revenue guidance. In total, we have raised guidance by some $70 million this year and are now guiding to $605 million to $615 million. This represents our 20th straight quarter of strong revenue growth and we anticipate this growth continuing in 2022,” said Doug Ingram, president and chief executive officer, Sarepta. “We have now initiated Part B of MOMENTUM, our pivotal trial for SRP-5051, our next-generation PPMO candidate for exon 51 skip amenable Duchenne patients as well as EMBARK, our pivotal trial for SRP-9001, our micro-dystrophin gene therapy for Duchenne. Also, this quarter we shared additional compelling data across three studies for SRP-9001, providing additional conviction as we execute on EMBARK and prepare to unblind and release Study 102 Part 2 results in the first quarter of next year. As we track out of 2021 and into a milestone-rich 2022, we are delivering on our approved therapies, seeing successes across our programs, and as of today, with greater than $2 billion of cash and cash equivalents on our balance sheet and a first-in-class team of genetic and rare disease professionals, have the resources and talent to deliver on the promise of our multi-platform pipeline.” Third Quarter 2021 and Recent Corporate Developments: At SRP-9001 Micro-dystrophin R&D Day Sarepta showed sustained functional improvements in multiple studies of individuals with Duchenne: In October of 2021, the Company presented new analyses and functional data from its SRP-9001 development program and details of EMBARK (Study SRP-9001-301); its global pivotal Phase 3 trial of SRP-9001 for the treatment of Duchenne. SRP-9001 is an investigational gene transfer ...