Q3 2024 Sarepta Therapeutics Inc Earnings Call Transcript
Key Points
- Sarepta Therapeutics Inc (SRPT) reported a strong quarter with total net product revenue of approximately $430 million, marking a 39% growth compared to the previous year.
- The company achieved profitability on both a GAAP and non-GAAP basis in the third quarter.
- Sarepta's PMO sales, including exon 51, 53, and 45, reached approximately $149 million, exceeding analyst expectations.
- The company is making significant progress in its R&D pipeline, with plans to file a BLA for SRP-9003 to treat limb-girdle muscular dystrophy in 2025.
- Sarepta's launch of the therapy '11' has been successful, driven by strong demand and positive trends in access and reimbursement.
- Sarepta Therapeutics Inc (SRPT) decided to discontinue the SRP 50 plus development program due to safety concerns and evolving treatment landscapes.
- The company faced increased R&D expenses, partly due to the termination of a commercial manufacturing and supply agreement.
- There is a potential risk of cannibalization of the PMO franchise by the new therapy '11', although not yet materialized.
- The company is experiencing challenges in scaling site capacity and ensuring sites are well-educated and equipped to manage patients.
- Sarepta's PPMO program faced setbacks due to safety concerns, leading to the discontinuation of the entire PPMO franchise.
Good day and welcome to the Sarepta Therapeutics third-quarter 2024 financial results conference call. (Operator Instructions)
As a reminder, today's conference is being recorded. I'd like to turn the call over to Mary Jane can associate director, investor relations and corporate communications locations. Please go ahead. Doesn't sound like you all for joining today's call. Earlier this afternoon, we released our financial results for the third quarter 2020 for the press release is available on our website at synaptics.com, and our 10 K was filed with the Securities Exchange Act May 20th. On the call today are Doug Ingram in Appleton down Marie and Dr. Louise Rodino-Klapac, Quebec. After our formal remarks, we'll open the call for Q&A. I'd like to note that during this call, we will make will be making a number of forward-looking statements for a moment to review our slide on the webcast, which contains our forward-looking
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
