CAMBRIDGE, Mass. – Sarepta Therapeutics, Inc. (NASDAQ:), a biotechnology company specializing in genetic medicine for rare diseases with a market capitalization of $11.95 billion, reported preliminary financial results today, showcasing a significant revenue increase for the fourth quarter and full year of 2024. According to InvestingPro data, the company has maintained impressive revenue growth of 48.45% over the last twelve months, reflecting its strong market position. The company announced total net product revenue of $638.2 million for the fourth quarter and $1.79 billion for the entire year, surpassing its own full-year guidance by over $100 million.
The company’s ELEVIDYS product, a gene therapy for Duchenne muscular dystrophy, generated $384.2 million in net revenue for the fourth quarter, exceeding expectations by over $60 million. The full-year revenue for ELEVIDYS amounted to $820.8 million. Additionally, Sarepta’s RNA-based PMO products brought in $254.0 million in the fourth quarter and $967.2 million for the full year.
As of December 31, 2024, Sarepta’s cash reserves, including cash equivalents, restricted cash, and investments, were approximately $1.5 billion. The company’s strong liquidity position is evidenced by a healthy current ratio of 3.84, with liquid assets well exceeding short-term obligations. The company also reiterated its revenue guidance for the full year of 2025, projecting total net product revenues to be between $2.9 and $3.1 billion. InvestingPro analysis reveals the company maintains a GOOD overall financial health score, with particularly strong marks in growth and profitability metrics.
Sarepta’s President and CEO, Doug Ingram, highlighted the company’s strong performance, noting a 75% year-over-year growth in total net product revenue for the fourth quarter and a 56% increase over the previous year. Ingram emphasized the success of ELEVIDYS’s launch and the continued growth of the PMO franchise.
These preliminary financial results are unaudited and subject to adjustment. Sarepta will report its final and complete financial results for the fourth quarter and full year 2024 in late February 2025. Analysts maintain a bullish outlook on the stock, with an average target suggesting significant upside potential. The company has not yet completed its financial closing procedures for the year, and the actual results may differ from these preliminary figures. For deeper insights into Sarepta’s financial health and growth prospects, including 12 additional ProTips and comprehensive valuation metrics, check out the full research report available on InvestingPro.
This financial update is based on a press release statement from Sarepta Therapeutics. The company will provide more detailed information once the final figures are released.
In other recent news, Sarepta Therapeutics has been a focal point for several analysts. BMO Capital Markets highlighted Centessa Pharmaceuticals, Keros Therapeutics, Prime Medicine, and Sarepta as top biotech picks for 2025. Sarepta was also noted for its potential upside in revenue growth and strong financial health by InvestingPro. The company’s recent strategic partnership with Arrowhead Pharmaceuticals (NASDAQ:), expected to finalize in early 2025, is set to add potentially 13 RNAi programs to its pipeline. This move has sparked interest from various financial firms, including Piper Sandler, Needham, Morgan Stanley (NYSE:), and Mizuho (NYSE:), which have maintained positive ratings on Sarepta’s stock. Despite the optimistic outlook, H.C. Wainwright lowered its price target for Sarepta, maintaining a “sell” rating. These are recent developments for Sarepta Therapeutics.
Regeneron (NASDAQ:) Pharmaceuticals was also spotlighted by RBC Capital Markets, which gave the company an “Outperform” rating. Despite potential competition, the firm maintains that the fundamentals of Regeneron remain solid, with promising prospects for the launch of new treatments. The company’s stock was also given an “Outperform” rating by BMO Capital Markets and Piper Sandler, indicating confidence in the company’s position and growth potential. These are the recent developments for Regeneron Pharmaceuticals.
Amgen Inc (NASDAQ:)., Legend Biotech, and Axsome Therapeutics (NASDAQ:) were also given an “Outperform” rating by RBC Capital. The firm sees potential for these companies in the upcoming year, based on new product launches, clinical trial readouts, and sales growth expectations. These are the recent developments for these companies.
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