WASHINGTON (dpa-AFX) - Sarepta Therapeutics (SRPT) Tuesday reported first-quarter net loss of $447.5 million or $4.60 per share, compared to net income of $36.1 million or $0.37 per share in the same period last year.
Excluding items, Sarepta Therapeutics reported adjusted loss of $332.5 million or $3.42 per share for the period.
Research and development expenses were $773.4 million for the three months ended March 31, 2025, as compared to $200.4 million for the same period of 2024, an increase of $573.0 million. The increase in research and development expenses primarily reflects an increase in up-front and milestone expense associated with the licensing and collaboration agreement and stock purchase agreement with Arrowhead, partially offset by a decrease in clinical trial expenses primarily due to the discontinuation of the PPMO programs in 2024.
Revenues for the quarter rose to $744.9 million from $413.5 million in the same period last year.
Looking forward, the company expects net product revenues of $2.30 billion to $2.60 billion, down from prior estimate of $2.90 billion to $3.10 billion.
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