Sarepta Therapeutics Inc. (NASDAQ: SRPT) has announced its preliminary Q3 2021 financial results. The company expects net product revenues of $166.9 million relative to net revenue of $121.4 million a year ago.
Sarepta has $1.6 billion in cash and equivalents
At the end of the quarter, the company has cash, cash equivalents, and investments of $1.6 billion relative to $1.9 billion at the end of December 31, 2020.
Notably, the company’s management has prepared the results on a consistent basis with previous periods. However, Sarepta is yet to complete its financial closing procedures for the third quarter, and full financial results could be different from the preliminary results. Additionally, the independent registered public accounts firm is yet to review, compile or perform any procedures related to the preliminary results.
Sarepta announced data analyses for SRP-9001
The company has released functional data and new analyses from the SRP-9001 development program and SRP-9001-301 EMBARK Study detail. EMBARK is a global third phase study of SRP-9001 for Duchenne muscular dystrophy treatment. In addition, the company is developing SRP-9001 in collaboration with ROCHE, and the experimental gene transfer therapy seeks to deliver its micro-dystrophin-encoding gene to muscle tissue for targeted micro-dystrophin protein production.
Sarepta CEO Doug Ingram said, “With 77 patients treated to date, the multi-study development program for SRP-9001 represents the most comprehensive and long-term dataset for a Duchenne muscular dystrophy gene therapy in existence. The totality of evidence shows that SRP-9001 is a significantly differentiated gene therapy product candidate with one-time dosing and a stable tolerability profile.”
Doug added, “We commence our EMBARK pivotal trial – currently the only truly global Phase 3 trial with a Duchenne gene therapy – with great conviction in the transformative potential of SRP-9001. But while our expression, tolerability, functional evidence and CMC achievements may place SRP-9001 alone among potential therapies, we never forget that we remain in a daily race against a life-ending degenerative disease.”
