Sarepta Therapeutics, Inc. (SRPT) Q3 2022 Earnings Call Transcript

For the period ending September 30, 2022

November 2, 2022 4:30 p.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good afternoon, and welcome to the Sarepta Therapeutics Third Quarter 2022 Earnings Call. As a reminder, today’s program is being recorded. [Operator Instructions]

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

Mary Jenkins

Thank you, Kathy, and thank you for joining today’s call. Earlier today, we released our financial results for the third quarter 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 on the call today 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 for joining Sarepta Therapeutics third quarter 2022 financial results conference call.

Commencing with performance, as you will have seen in our release, we had another strong quarter serving the community with our three approved therapies EXONDYS 51, VYONDYS 53 and AMONDYS 45.

As we mentioned on our second quarter call, about $5 million anticipated for the third quarter came in and was booked in the second quarter. And even with that, total revenue for the third quarter was approximately $230.3 million and net product revenue was $207.8 million, representing a nearly 25% growth over the same quarter last year.