Sarepta's Loss Widens 59% as it Prepares Eteplirsen For a New Drug Application Filing

Sarepta's operating costs soar in lieu of higher clinical trial costs, but are partially offset by a surge in revenue.

May 8, 2014 at 11:45AM

Duchenne muscular dystrophy-focused biopharmaceutical company Sarepta Therapeutics (NASDAQ:SRPT) reported its first-quarter results before the opening, telling the tale of a widening loss but a number of new regulatory moves on the horizon.

For the quarter, Sarepta reported a 36% increase in total revenue to $6.1 million as it recognized more revenue tied to the Marburg portion of its July 2010 government contract. Sarepta also received a boost from an exon 53-skipping therapeutic program, which receives support in the form of development cost reimbursement per its EU SKIP-NMD agreement.

Costs for the quarter, due to Sarepta's pipeline expansion and the company bringing on new personnel, jumped to $31.2 million from $19.9 million in the prior year period. Net loss, on an adjusted basis, widened by 59% to $20.7 million, or $0.55 per share, from the $13 million loss, or $0.41 per share, reported in Q1 2013. On GAAP basis its loss actually shrank by $13.8 million, but this was primarily due to a favorable change in warrant value.

Sarepta ended the quarter with $233.1 million in cash, cash equivalents, short investments and restricted investments, compared to $264.9 million as of the sequential fourth quarter.

Looking ahead, Sarepta laid the groundwork for its next regulatory and corporate development steps. It plans to file a new drug application in the U.S. for eteplirsen before the end of the year, and anticipates submitting investigational new drug applications for two Duchenne muscular dystrophy candidates sometime in the third quarter. Sarepta also plans to seek guidance in the EU later this year as to what it will need to get eteplirsen authorized in that region.

Sean Williams has no material interest in any companies mentioned in this article. You can follow him on CAPS under the screen name TMFUltraLong, track every pick he makes under the screen name TrackUltraLong, and check him out on Twitter, where he goes by the handle @TMFUltraLong.

Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Money to your ears - A great FREE investing resource for you

The best way to get your regular dose of market and money insights is our suite of free podcasts ... what we like to think of as “binge-worthy finance.”

Feb 1, 2016 at 5:03PM

Whether we're in the midst of earnings season or riding out the market's lulls, you want to know the best strategies for your money.

And you'll want to go beyond the hype of screaming TV personalities, fear-mongering ads, and "analysis" from people who might have your email address ... but no track record of success.

In short, you want a voice of reason you can count on.

A 2015 Business Insider article titled, "11 websites to bookmark if you want to get rich," rated The Motley Fool as the #1 place online to get smarter about investing.

And one of the easiest, most enjoyable, most valuable ways to get your regular dose of market and money insights is our suite of free podcasts ... what we like to think of as "binge-worthy finance."

Whether you make it part of your daily commute or you save up and listen to a handful of episodes for your 50-mile bike rides or long soaks in a bubble bath (or both!), the podcasts make sense of your money.

And unlike so many who want to make the subjects of personal finance and investing complicated and scary, our podcasts are clear, insightful, and (yes, it's true) fun.

Our free suite of podcasts

Motley Fool Money features a team of our analysts discussing the week's top business and investing stories, interviews, and an inside look at the stocks on our radar. The show is also heard weekly on dozens of radio stations across the country.

The hosts of Motley Fool Answers challenge the conventional wisdom on life's biggest financial issues to reveal what you really need to know to make smart money moves.

David Gardner, co-founder of The Motley Fool, is among the most respected and trusted sources on investing. And he's the host of Rule Breaker Investing, in which he shares his insights into today's most innovative and disruptive companies ... and how to profit from them.

Market Foolery is our daily look at stocks in the news, as well as the top business and investing stories.

And Industry Focus offers a deeper dive into a specific industry and the stories making headlines. Healthcare, technology, energy, consumer goods, and other industries take turns in the spotlight.

They're all informative, entertaining, and eminently listenable. Rule Breaker Investing and Answers are timeless, so it's worth going back to and listening from the very start; the other three are focused more on today's events, so listen to the most recent first.

All are available for free at www.fool.com/podcasts.

If you're looking for a friendly voice ... with great advice on how to make the most of your money ... from a business with a lengthy track record of success ... in clear, compelling language ... I encourage you to give a listen to our free podcasts.

Head to www.fool.com/podcasts, give them a spin, and you can subscribe there (at iTunes, Stitcher, or our other partners) if you want to receive them regularly.

It's money to your ears.

 


Compare Brokers