Sarepta Therapeutics, Inc. · NASDAQ:SRPT

Sarepta Therapeutics — Q2 2026 Earnings Presentation

31 slides from Sarepta Therapeutics's earnings presentation, Aug 5, 2026

  1. Slide 1: Second Quarter 2026 Financial Results

    Patients can’t wait for the next breakthrough in medical research. So neither will we. Second Quarter 2026 Financial Results Wednesday, August 5, 2026 DILLON Living with Duchenne muscular dystrophy ©SAREPTA THERAPEUTICS, INC. 2026. ALL RIGHTS RESERVED. 1

  2. Slide 2: Forward-looking statements

    Forward-looking statements In order to provide Sarepta’s investors with an understanding of its current results and future prospects, forward-looking statements will be made during this presentation. Any statements that are not statements of historical fact may be deemed to be forward-looking statem

  3. Slide 3: Non-GAAP Financial Measures

    Non-GAAP Financial Measures This presentation includes both GAAP information and Non-GAAP information. Non-GAAP net income (loss) is defined as GAAP net (loss) income excluding interest expense/income, net, depreciation and amortization expense, stock-based compensation expense, loss (gain) on strat

  4. Slide 4: Contents

    Contents Opening Remarks Michael Severino, M.D. 5-6 Commercial Performance Patrick Moss, PharmD 7-9 R&D Highlights Louise Rodino-Klapac, PhD 10 - 20 Financial Results Ryan Wong 21 - 24 ©SAREPTA THERAPEUTICS, INC. 2026. ALL RIGHTS RESERVED. 4

  5. Slide 5: CEO Transition Positions Sarepta for Continued Execution and Next Phase of Growth

    CEO Transition Positions Sarepta for Continued Execution and Next Phase of Growth ✓ Proven Biopharma Leader with Broad Execution Experience ✓ Strong Strategic Fit with Sarepta’s Precision Medicine Mission ✓ Structured Transition with Continuity and Momentum Michael Severino, M.D. Chief Executive Off

  6. Slide 6: Q2 2026 and Recent Highlights

    Q2 2026 and Recent Highlights Corporate Highlights R&D Updates Financial Results • New CEO Appointed: • Profitable and cash-generating: • Regulatory progress for PMOs: Michael Severino, M.D. brings Delivered another quarter of GAAP sNDAs for AMONDYS 45 and deep biopharma leadership, and Non-GAAP ope

  7. Slide 7: Commercial Performance

    Commercial Performance Patrick Moss, PharmD Executive Vice President, Chief Commercial Officer ©SAREPTA THERAPEUTICS, INC. 2026. ALL RIGHTS RESERVED. 7

  8. Slide 8: Commercial Initiatives Taking Hold as PMO Franchise Remains Durable

    Commercial Initiatives Taking Hold as PMO Franchise Remains Durable $ in Millions Q2 2026 Performance • ELEVIDYS: Sales remained relatively steady, with quarter-over-quarter growth in enrollment forms signaling increasing demand $331 $329 • PMOs: Stable demand supported by sustained physician confid

  9. Slide 9: Exon-skipping Franchise

    Exon-skipping >1,800 10+ franchise sets patients worldwide years of clinical ranging from infants and commercial to adults in their 30’s precedent and over experience in Duchenne Established 7.5 year Sarepta’s exon skippers have safety Delay in need for an established safety profile and have success

  10. Slide 10: R&D Updates

    R&D Updates Louise Rodino-Klapac, PhD President, R&D and Technical Operations ©SAREPTA THERAPEUTICS, INC. 2026. ALL RIGHTS RESERVED. 10

  11. Slide 11: A Biology-First Approach: siRNA-mediated mRNA Degradation

    A Biology-First Approach: siRNA-mediated mRNA Degradation Designed to Enable Specific Target Knockdown 2 siRNA has been modified to preferentially load the guide strand for enhanced specificity 3 Complementary pairing 4 Catalytically active RISC cleaves multiple target mRNAs, with the goal of superi

  12. Slide 12: Early Clinical Data Strengthen Potential Best-in-Class Approach for SRP-1001 and SRP-1003

    Early Clinical Data Strengthen Potential Best-in-Class Approach for SRP-1001 and SRP-1003 to Treat FSHD1 and DM1 • Maximizing Therapeutic Delivery and Effect to Muscle – Clinical experience to date matches preclinical data: The αvβ6 integrin-targeting ligand drives potentially greater construct musc

  13. Slide 13: FSHD is Caused by the Contraction of the D4Z4 Repeat

    FSHD is Caused by the Contraction of the D4Z4 Repeat, Leading to the Abnormal Expression of DUX4, which is Typically Silenced Early in Life DUX4 Gene Expression A DUX4 Transcription Factor B FSHD genotype leads to aberrant DUX4 expression C Downstream Cellular Consequences ©SAREPTA THERAPEUTICS, INC

  14. Slide 14: DM1: Expanded DMPK Repeat, Leading to Multi-System Impact

    DM1: Expanded DMPK Repeat, Leading to Multi-System Impact Targeting and knockdown of DMPK leads to therapeutic benefit DM1 Genetic Cause DMPK DNA Expanded tri-nucleotide repeat in the DMPK gene (CTG)n (50 – 1000 repeats) 5’CAP AAAAA RNA Repeats accumulate in the nucleus and create 3D structures that

  15. Slide 15: Driving Delivery Efficiency: Key Objectives

    Driving Delivery Efficiency: Key Objectives • Long-term exposure in muscle • Superior muscle concentration • Successful target engagement and knockdown ©SAREPTA THERAPEUTICS, INC. 2026. ALL RIGHTS RESERVED. 15

  16. Slide 16: Targeting αvβ6 Integrin over TfR1 for Greater Muscle Uptake

    Targeting αv6 Integrin over TfR1 for Greater Muscle Uptake High expression and surface availability of αv6 in muscle make it a preferred receptor for targeted siRNA delivery TfR1 s : 5%1 of receptors available for binding on surface at any one time; majority are intracellular IV Delivery αv6: ~40

  17. Slide 17: TfR1-Binding Designed to Optimize CNS Delivery in Huntington's Disease

    TfR1-Binding Designed to Optimize CNS Delivery in Huntington’s Disease CNS-SC platform demonstrates improved delivery to deep brain in NHP compared to direct CSF injection CSF delivery via Systemic delivery via SRP-1005 in NHP IT injection SC injection SRP-1005 HD program employs a subcutaneous rout

  18. Slide 18: Growing Body of Clinical Data Support ELEVIDYS

    Growing Body of Clinical Data Support ELEVIDYS, the Only Gene Therapy Approved to Treat Duchenne • Interim safety data from the Phase 4 ENDURE study to be presented at the Neuromuscular Study Group Meeting in September 2026 showing zero incidence of ALI in patients treated prophylactically with siro

  19. Slide 19: Regulatory Progress: AMONDYS 45 and VYONDYS 53

    Regulatory Progress: AMONDYS 45 and VYONDYS 53 • FDA accepted filing of supplemental New Drug Applications (sNDAs) for AMONDYS 45 and VYONDYS 53 • sNDA submissions seek conversion of the accelerated approvals of AMONDYS 45 and VYONDYS 53 to traditional approvals • Target action date – February 28, 2

  20. Slide 20: Key Upcoming Milestones

    Key Upcoming Milestones GENE siRNA THERAPY SRP-1001 SRP-1005 ELEVIDYS FSHD1 Huntington’s Duchenne MAD study data, disease ENDEAVOR Cohort 8 enrollment incl. safety, PK, DUX4-regulated Proof-of-biology data complete – 2H 2026, and 12-wk gene panel, circulating – 1H 2027 data from full cohort in Q1 20

  21. Slide 21: Financial Results

    Financial Results Ryan Wong Executive Vice President, Chief Financial Officer ©SAREPTA THERAPEUTICS, INC. 2026. ALL RIGHTS RESERVED. 21

  22. Slide 22: Financial Highlights

    Financial Highlights Q2 2026 Financial Results Operating Income Cash and Product Revenue Total Revenues GAAP / Non-GAAP1 Investments2 $329 million $401 million $13 million / $86 million $945 million Financial strength enables investing to maintain DMD leadership and future growth across neuromuscula

  23. Slide 23: Q2 2026 Select Financial Data

    Q2 2026 Select Financial Data YTD YTD Q2 Q2 YoY YoY Q2 Q2 2026 2025 % % $ In Millions, except percentages 2026 2025 Total Product Revenues $329 $513 -36% $659 $1,125 -41% Collaboration and Other Revenues $73 $98 $473 $231 Total Revenues $401 $611 -34% $1,132 $1,356 -17% Cost of Sales (excludes amort

  24. Slide 24: FY 2026 Guidance

    FY 2026 Guidance FY 2026 Previous Guidance Guidance Assumptions As of August 5, 2026 • At guidance midpoint, 2H26 revenue modestly lower $1,200-1,300M $1,200-1,400M than 1H26 Total Net Product Revenues Midpoint is an Anchored to lower • Quarter to quarterly variability due to one-time infusion appro

  25. Slide 25: Q&A

    Q&A ©SAREPTA THERAPEUTICS, INC. 2026. ALL RIGHTS RESERVED. 25

  26. Slide 26: Appendix

    Appendix ©SAREPTA THERAPEUTICS, INC. 2026. ALL RIGHTS RESERVED. 26

  27. Slide 27: Condensed Consolidated Statements of (Loss) Income

    Condensed Consolidated Statements of (Loss) Income ©SAREPTA THERAPEUTICS, INC. 2026. ALL RIGHTS RESERVED. 27

  28. Slide 28: Reconciliation of GAAP Reported Net (Loss) Income to Non-GAAP Net Income (Loss)

    Reconciliation of GAAP Reported Net (Loss) Income to Non-GAAP Net Income (Loss) ©SAREPTA THERAPEUTICS, INC. 2026. ALL RIGHTS RESERVED. 28

  29. Slide 29: Reconciliation of GAAP to Non-GAAP Reported Operating Income

    Reconciliation of GAAP to Non-GAAP Reported Operating Income, SG&A and R&D Expenses, and Total Effective Tax Rate ©SAREPTA THERAPEUTICS, INC. 2026. ALL RIGHTS RESERVED. 29

  30. Slide 30: PMO Revenue Breakdown by Product

    PMO Revenue Breakdown by Product ©SAREPTA THERAPEUTICS, INC. 2026. ALL RIGHTS RESERVED. 30

  31. Slide 31: Total Revenue and Cost of Sales Breakdown

    Total Revenue and Cost of Sales Breakdown ©SAREPTA THERAPEUTICS, INC. 2026. ALL RIGHTS RESERVED. 31

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