Taking Stock of Sarepta’s Latest Performance

Sarepta overview

Sarepta Therapeutics (SRPT), a commercial-stage biopharmaceutical company, is focused on bringing to market RNA (ribonucleic acid) targeted therapies, gene therapies, and other genetic approaches to treating rare neuromuscular diseases. In this series, we’ll explore Sarepta’s financials and valuation as well as analysts’ views on its stock.

Its first product on the market, Exondys 51, is targeted at treating DMD (Duchenne muscular dystrophy) in patients with a mutation of the DMD gene, which is amenable to exon 51 skipping. In countries where Exondys 51 hasn’t yet been approved, Sarepta has undertaken a market access program through which the drug can be prescribed to patients who meet the prespecified criteria and can secure funding.

Taking Stock of Sarepta’s Latest Performance

Sarepta is also advancing its product candidates eteplirsen, golodirsen, casimersen, and SRP-5051.

Sarepta’s top line

In the third quarter, Sarepta’s total revenue rose year-over-year to $78.49 million from $45.95 million due to increasing demand for Exondys 51.

In 2018 and 2019, Sarepta Therapeutics is expected to generate revenues of $301.13 million and $420.24 million, respectively, compared to its revenue of $154.58 million in 2017. Meanwhile, peers Pfizer (PFE), Regeneron (REGN), and Vertex Pharmaceuticals (VRTX) are expected to have revenues of $53.59 billion, $6.49 billion, and $2.99 billion, respectively, in 2018. Sarepta’s cash per share is $11.62, while Pfizer, Regeneron, and Vertex are expected to have cash per share of $2.92, $20.76, and $11.73, respectively.

Next, we’ll look at Sarepta’s gross margin trends.