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Sarepta Therapeutics Inc. (NASDAQ:SRPT) is one of the most shorted mid-cap and small-cap stocks to buy now. On May 6, Sarepta Therapeutics Inc. (NASDAQ:SRPT) delivered impressive first-quarter results as it bounced back to profitability despite facing commercialization challenges with its flagship gene therapy, ELEVIDYS.
Total revenue in the quarter was $730.8 million, a decrease of $14.1 million from $744.9 million delivered in the same quarter last year. The decline was attributed to lower ELEVIDYS sales volume resulting from the updated label, which specifies treatment only for ambulatory patients. The decrease was partially offset by a $253 million increase in collaboration revenue.
Amid a slight revenue decline, Sarepta Therapeutics bounced back to profitability with non–GAAP net income of $385.4 million, or $3.16 a share, compared to a net loss of $332.5 million, or a loss of $3.42 a share, delivered the same quarter last year. Earnings beat ****** ysts’ expectations of $0.99 a share on revenue of $731 million.
The bounce back to profitability was driven by disciplined cost management and a favorable revenue mix. In addition, the company delivered positive cash flow, with cash and investments totaling $748 million. Consequently, it remains well-positioned to fund its pipeline development without tapping the debt market.
Sarepta Therapeutics Inc (NASDAQ:SRPT) is a global biotechnology company that engineers precision genetic medicines to treat rare neuromuscular diseases, primarily ****** nne muscular dystrophy (DMD). They develop treatments using three main scientific platforms: gene therapy, RNA technologies, and gene editing.
Total revenue in the quarter was $730.8 million, a decrease of $14.1 million from $744.9 million delivered in the same quarter last year. The decline was attributed to lower ELEVIDYS sales volume resulting from the updated label, which specifies treatment only for ambulatory patients. The decrease was partially offset by a $253 million increase in collaboration revenue.
Amid a slight revenue decline, Sarepta Therapeutics bounced back to profitability with non–GAAP net income of $385.4 million, or $3.16 a share, compared to a net loss of $332.5 million, or a loss of $3.42 a share, delivered the same quarter last year. Earnings beat ****** ysts’ expectations of $0.99 a share on revenue of $731 million.
The bounce back to profitability was driven by disciplined cost management and a favorable revenue mix. In addition, the company delivered positive cash flow, with cash and investments totaling $748 million. Consequently, it remains well-positioned to fund its pipeline development without tapping the debt market.
Sarepta Therapeutics Inc (NASDAQ:SRPT) is a global biotechnology company that engineers precision genetic medicines to treat rare neuromuscular diseases, primarily ****** nne muscular dystrophy (DMD). They develop treatments using three main scientific platforms: gene therapy, RNA technologies, and gene editing.
