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Spark Therapeutics, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2019 10-Q, filed Nov 7, 2019. Its latest SEC filing is a SC 13G/A from Feb 14, 2020.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Sells LUXTURNA, a gene therapy for inherited retinal disease, through treatment centers and develops gene therapies for genetic diseases affecting the eye, liver and nervous system.

How Did They Make Money?

U.S. institutions traditionally buy LUXTURNA and bill payers; under its contracting model, commercial payers or designated specialty pharmacies can buy it. A sale is counted after a scheduled treatment is verified.

FY2018 revenue

Who Were Their Customers?

U.S. patients receive LUXTURNA from trained retinal surgeons at selected treatment centers. Institutions traditionally buy it and bill payers, while the company's contracting model lets commercial payers or designated specialty pharmacies purchase it.

Did Revenues Turn Into Profits?

No. It lost $78.8M in FY2018.

Operating income, FY2018
−299% of revenue
▼ −25% (Loss) vs FY2017 (−$258.5M, −2143%)
Net income, FY2018
−122% of revenue
▼ −69% (Loss) vs FY2017 (−$253.5M, −2101%)
Free cash flow, FY2018
−161% of revenue
▼ −36% (Loss) vs FY2017 (−$164.2M, −1361%)

How Were They Changing?

Since the FY2018 annual report
Latest quarter: Q3 FY2019, the three months to Sep 30, 2019
Revenue
▲ +110%
vs $10.7M in Q3 FY2018
Net income
▲ +41% (Loss)
vs −$47.4M in Q3 FY2018
  • Dec 17, 2019 Roche completed its acquisition of Spark Therapeutics Spark became a wholly owned subsidiary of Roche Holdings.

Grew. Revenue grew 102.1x in 4 years, from $633.9K in FY2014 to $64.7M in FY2018, about 218% a year.

From candidate to marketed treatment The older report presented its lead retinal gene therapy as a candidate awaiting a planned U.S. application; the latest describes approved LUXTURNA and its use at treatment centers.

Overseas commercialization The older report planned global commercialization of its lead retinal treatment; the latest says Novartis holds development and commercialization rights outside the United States.

Hemophilia B program moved to Pfizer The older report described the hemophilia B program as a collaboration with Pfizer and a clinical trial; the latest says the program transitioned to Pfizer for continued development.

Who Did They Compete With?

Competes with 4D Molecular Therapeutics, Abeona Therapeutics, Actus Therapeutics, Adverum Biotechnologies, Amicus Therapeutics, Applied Genetic Technologies, Asklepios BioPharmaceutical, Audentes Therapeutics, Axovant Sciences, BioMarin Pharmaceutical, GenSight Biologics, Homology Medicines, Horama, Lysogene, MeiraGTx, Nightstar Therapeutics, PTC Therapeutics, REGENXBIO, Sangamo Therapeutics, and Sarepta Therapeutics

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