Sarepta Therapeutics Files Q2 2024 10-Q
Ticker: SRPT · Form: 10-Q · Filed: Aug 7, 2024 · CIK: 873303
Sentiment: neutral
Topics: 10-Q, pharmaceuticals, SEC-filing
TL;DR
**SRPT Q2 10-Q filed. Financials and operations update.**
AI Summary
Sarepta Therapeutics, Inc. filed its 10-Q for the period ending June 30, 2024. The company, incorporated in Delaware, operates in the pharmaceutical preparations sector. Key financial data and business addresses are provided, with the company's principal executive offices located in Cambridge, MA.
Why It Matters
This filing provides investors with an update on Sarepta Therapeutics' financial performance and operational status for the second quarter of 2024, crucial for understanding the company's trajectory.
Risk Assessment
Risk Level: medium — As a pharmaceutical company, Sarepta Therapeutics faces inherent risks related to drug development, regulatory approvals, and market competition, which are typical for the industry.
Key Numbers
- 001-14895 — SEC File Number (Identifies Sarepta's filing with the SEC)
- 0000873303 — Central Index Key (Unique identifier for Sarepta Therapeutics in SEC filings)
Key Players & Entities
- Sarepta Therapeutics, Inc. (company) — Filer of the 10-Q
- 215 First Street, Suite 415, Cambridge, MA 02142 (location) — Business and mailing address
- 20240630 (date) — Period of report for the 10-Q
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, indicating the filing covers the second quarter of 2024.
What is Sarepta Therapeutics' primary industry classification?
Sarepta Therapeutics is classified under Standard Industrial Classification code 2834, which corresponds to Pharmaceutical Preparations.
Where are Sarepta Therapeutics' principal executive offices located?
The company's business and mailing address is 215 First Street, Suite 415, Cambridge, MA 02142.
What is the SEC File Number for Sarepta Therapeutics?
The SEC File Number for Sarepta Therapeutics is 001-14895.
When was Sarepta Therapeutics, Inc. previously known as AVI BIOPHARMA INC?
The date of the name change from AVI BIOPHARMA INC to Sarepta Therapeutics, Inc. was 19980930.
Filing Stats: 4,410 words · 18 min read · ~15 pages · Grade level 15.1 · Accepted 2024-08-07 16:01:32
Key Financial Figures
- $0.0001 — nge on which registered Common Stock, $0.0001 par value per share SRPT The Nasdaq
Filing Documents
- srpt-20240630.htm (10-Q) — 3342KB
- srpt-ex31_1.htm (EX-31.1) — 11KB
- srpt-ex31_2.htm (EX-31.2) — 12KB
- srpt-ex32_1.htm (EX-32.1) — 8KB
- srpt-ex32_2.htm (EX-32.2) — 8KB
- 0000950170-24-092720.txt ( ) — 11663KB
- srpt-20240630.xsd (EX-101.SCH) — 1376KB
- srpt-20240630_htm.xml (XML) — 2233KB
— FINANCIAL INFORMATION
PART I — FINANCIAL INFORMATION Item 1.
Financial Statements (unaudited)
Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets — As of June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Comprehensive Income (Loss) — For the Three and Six Months Ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Stockholders' Equity — For the Three and Six Months Ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows — For the Six Months Ended June 30, 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 36 Item 4.
Controls and Procedures
Controls and Procedures 36
— OTHER INFORMATION
PART II — OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 37 Item 1A.
Risk Factors
Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 74 Item 3. Defaults Upon Senior Securities 74 Item 4. Mine Safety Disclosures 74 Item 5. Other Information 74 Item 6. Exhibits 74 Exhibits 75
— FINANCI AL INFORMATION
PART I — FINANCI AL INFORMATION
Financi al Statements
Item 1. Financi al Statements SAREPTA THERAPEUTICS, INC. CONDENSED CONSOLIDA TED BALANCE SHEETS (unaudited, in thousands, except share and per share amounts) As of June 30, 2024 As of December 31, 2023 Assets Current assets: Cash and cash equivalents $ 383,622 $ 428,430 Short-term investments 1,076,852 1,247,820 Accounts receivable, net 359,997 400,327 Inventory 485,795 322,859 Manufacturing-related deposits and prepaids 302,627 102,181 Other current assets 74,743 77,714 Total current assets 2,683,636 2,579,331 Property and equipment, net 276,200 227,154 Right of use assets 124,001 129,952 Non-current inventory 204,691 191,368 Other non-current assets 135,729 136,771 Total assets $ 3,424,257 $ 3,264,576 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 107,417 $ 164,918 Accrued expenses 350,404 314,997 Deferred revenue, current portion 122,036 50,416 Current portion of long-term debt 91,505 105,483 Other current liabilities 17,128 17,845 Total current liabilities 688,490 653,659 Long-term debt 1,134,810 1,132,515 Lease liabilities, net of current portion 143,601 140,965 Deferred revenue, net of current portion 325,000 437,000 Contingent consideration 48,200 38,100 Other non-current liabilities 7,087 3,000 Total liabilities 2,347,188 2,405,239 Commitments and contingencies (Note 15) Stockholders' equity: Preferred stock, $ 0.0001 par value, 3,333,333 shares authorized; none issued and outstanding — — Common stock, $ 0.0001 par value, 198,000,000 shares authorized; 95,282,600 and 93,731,831 issued and outstanding at June 30, 2024, and December 31, 2023, respectively 10 9 Additional paid-in capital 5,481,723 5,304,623 Accumulated other comprehensive (loss) income, net of tax ( 1,030 ) 918 Accumulated deficit ( 4,403,634 ) ( 4,446,