Sarepta Therapeutics Inc. (NASDAQ:SRPT) has announced its Q3 2020 financial results with net product sales up 23% YoY to $121.4 million.
Sarepta reports 23% YoY growth in net product revenue
Doug Ingram, Sarepta’s CEO and president, indicated that despite the challenges caused by the pandemic in the third quarter, the company continued to execute well. Sarepta continued to serve the Duchenne muscular dystrophy patients with many interruptions, and the company realized net product revenue of $121.4 million. The revenue was attributable to VYONDYS 53 (golgodiresen) and EXONDYS 51 (eteplirsen) sales which accounted for 23% YoY growth. Ingram added that in Q3 the company continued to advance its RNA pipeline with the FDA accepting its NDA filing for PMO candidate, casimersen.
Sarepta also prepared its next-generation candidate, SRP-5051, the peptide conjugated PMO for a data readout at the end of this year. At this year’s World Muscle Society meeting, the company presented positive data for SRTP-9003 and SRP-9001, which are two vital drivers in the company’s first in class gene therapy engine. The company continued to enhance its manufacturing strength during the quarter in support of the programs. Ingram said that the FDA agreed on a potency assays approach allowing the company to dose subjects in the SRP-9001-103 study.
Sarepta reported SRP-9001 and SRP-9003 at WMS congress
In the third quarter, the company presented 2-year SRP-9001 micro-dystrophin gene therapy data in DMD patients at the 25th World Muscle Society Annual Congress. Results showed that there was a 7.0 point mean improvement on participants on the North Star Ambulatory Assessment compared to baseline. Sarepta also presented positive SRP-9003 results at the WMS congress. SRP-9003 is an experimental gene therapy for treating limb-girdle muscular dystrophy type 2E. The data presented also included 18-month functional results from three subjects in a clinical trial in the low-dose cohort and 6-month data for three participants from the high-dose cohort.
The company also invested $15 million in AavantiBio Inc. during the quarter and signed a collaboration with the University of Florida to expedite research and development of rare genetic disease therapies.