Sarepta Therapeutics, Inc. (SRPT) Q1 2022 Earnings Call Transcript

For the period ending March 31, 2022

May 4, 2022 4:30 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good afternoon, ladies and gentlemen. Welcome to the Sarepta Therapeutics First Quarter 2022 Earnings Call. As a reminder, today's program is being recorded.

At this time, I'll turn the call over to Mary Jenkins, Senior Manager, Investor Relations. Please go ahead.

Mary Jenkins

Thank you, Chloe and thank you all for joining today's call. Earlier today, we released our financial results for the first quarter of 2022. The press release is available on our website at sarepta.com and our 10-Q was filed with the Securities and Exchange Commission earlier this afternoon. Joining us today on the call are Doug Ingram, Ian Estepan, Dallan Murray and Dr. Louise Rodino-Klapac. After our formal remarks, we'll open the call for Q&A.

I'd like to note that during this call, we will be making a number of forward-looking statements. Please take a moment to review our slide on the webcast which contains our forward-looking statements. These forward-looking statements involve risks and uncertainties, many of which are beyond Sarepta's control. Actual results could materially differ from these forward-looking statements and any such risks can materially and adversely affect the business, the results of operations and trading prices for Sarepta's common stock. For a detailed description of applicable risks and uncertainties, we encourage you to review the company's most recent quarterly report on Form 10-Q filed with the SEC as well as the company's other SEC filings. The company does not undertake any obligation to publicly update its forward-looking statements, including any financial projections provided today based on subsequent events or circumstances.

And now I'll turn the call over to our President and CEO, Doug Ingram, who will provide an overview of our recent progress. Doug?

Doug Ingram

Thank you, Mary. Good afternoon, everyone and thank you all for joining Sarepta Therapeutics first quarter 2022 investor conference call.

As you will have seen from our press release issued earlier today, Sarepta enjoyed yet another straight quarter of strong revenue growth for our three approved therapies, EXONDYS 51, VYONDYS 53 and AMONDYS 45, achieving total revenues of $210.8 million in net product revenues of nearly $190 million. Our net product revenue performance represents an impressive 50% growth over the same quarter last year led by AMONDYS, each of our three therapies contributed to our outsized growth over the same quarter prior year.