A look at Sarepta’s earnings
Sarepta Therapeutics (SRPT), a commercial-stage biopharmaceutical company, develops unique RNA-targeted therapeutics, gene therapies, and other medicines for neuromuscular diseases. It released its Q2 2018 earnings on August 8 and surpassed Wall Street analysts’ estimates for EPS and revenues. It reported adjusted EPS of -$0.43 on revenues of $73.5 million compared to the estimated EPS of -$0.89 on revenues of $71.6 million.
The above chart compares Sarepta’s revenues and EPS since the first quarter of 2017.
Q2 2018 performance
Sarepta reported ~100% growth in YoY (year-over-year) revenues to $73.5 million in the second quarter. That compares to revenues of $35 million in the second quarter of 2017.
Revenue growth was driven by the strong performance of Exondys 51 (eteplirsen), an RNA[1. ribonucleic acid]-targeted therapy, due to strong demand in the US markets. Exondys 51 is the only product in Sarepta’s product portfolio to date that’s commercialized.
The cost of sales, excluding the amortization of in-licensed rights, was $6.7 million in the second quarter, compared to $0.5 million for the second quarter of 2017.
- On August 8, Sarepta entered into an agreement with Lacerta Therapeutics for exclusive rights to Lacerta’s program focused on CNS[2. central nervous system]-targeted gene therapy for the treatment of patients with Pompe Disease.
- On June 1, the European Medicines Agency’s Committee for Medicinal Products for Human Use adopted a negative opinion for the marketing authorization application of eteplirsen.
- Sarepta entered into a partnership with Brammer Bio and gained access to clinical and commercial manufacturing capacity for microdystrophin DMD (Duchenne muscular dystrophy) gene therapy.