Sarepta Therapeutics Reports Preliminary Q4 Net Product Revenue For ELEVIDYS Are Expected To Be ~$131.3M And $200.4M For FY23; Preliminary Total Net Product Revenue Is Expected To Total $1.145B For FY23
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Sarepta Therapeutics, Inc. (NASDAQ:SRPT) reported preliminary financial results for Q4 and FY23, with net product revenue expected to reach $1.145 billion for FY23. ELEVIDYS revenue is projected at $131.3 million for Q4 and $200.4 million for FY23, surpassing consensus. RNA-based PMO revenue is anticipated to be $234.3 million for Q4 and $945.0 million for FY23, exceeding the full-year guidance of $925 million. The company also reported a preliminary year-end cash balance of approximately $1.7 billion. These results were announced at the 42nd Annual J.P. Morgan Healthcare Conference and are unaudited and subject to adjustment. Final results will be reported in late February 2024.
January 08, 2024 | 5:01 pm
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POSITIVE IMPACT
Sarepta Therapeutics' preliminary FY23 revenue and Q4 earnings for ELEVIDYS and RNA-based PMOs exceeded expectations, with a strong year-end cash balance, indicating robust financial health and operational success.
The positive preliminary financial results, particularly the higher-than-expected revenue figures for ELEVIDYS and RNA-based PMOs, suggest strong product performance and market acceptance. This is likely to be viewed favorably by investors, potentially leading to a short-term increase in stock price. The announcement of these results at a major healthcare conference also adds to the credibility and visibility of the data. However, the final results are yet to be audited and reported, which introduces some uncertainty.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100