Sarepta Therapeutics (SRPT) Tops Q3 EPS by 29c

Sarepta Therapeutics (NASDAQ: SRPT) reported Q3 EPS of ($1.42), $0.29 better than the analyst estimate of ($1.71). Revenue for the quarter came in at $143.92 million versus the consensus estimate of $137.43 million.

“Even as the pandemic created challenges throughout the third quarter, I am pleased to report that the Sarepta team was able to continue to serve the Duchenne muscular dystrophy community with little interruption, achieving net product revenue of $121.4 million for EXONDYS 51 (eteplirsen) and VYONDYS 53 (golodirsen), representing a 23% increase over the same quarter last year,” said Doug Ingram, Sarepta’s president and CEO. “At the same time, we advanced our RNA pipeline with a filing of and the FDA’s acceptance of the NDA for our next PMO candidate, casimersen, and prepared our next-generation candidate, the peptide-conjugated PMO, SRP-5051 for a data readout by the end of 2020. We also announced, at the World Muscle Society congress, positive data for SRP-9001 and SRP-9003, two critical drivers of our first-in-class gene therapy engine, and in support of these programs continued to build our strength in manufacturing. As we reported in a separate release today, the FDA has agreed on an approach for a potency assay which should permit us to dose patients with commercial process material in Study SRP-9001-103, an important milestone in our goal of bringing a potentially profound therapy to a waiting Duchenne community.”

For earnings history and earnings-related data on Sarepta Therapeutics (SRPT) click here.

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