Sarepta Therapeutics, Inc.
sarepta.comWhat Do They Do?
Sells medicines for Duchenne muscular dystrophy through specialty pharmacies and to care sites, and develops genetic therapies for rare diseases.
10-K for FY2025, filed Mar 2, 2026We are a commercial-stage biopharmaceutical company focused on helping patients through the discovery and development of unique…View ↗
To date, we have developed and commercialized the following four approved products for the treatment of Duchenne: EXONDYS 51 (eteplirsen)…View ↗
Our PMO commercial products are distributed in the U.S. through a limited network of home infusion specialty pharmacy providers that…View ↗
The U.S. distribution model for ELEVIDYS employs multiple distribution partners that include third-party logistics providers as well as a…View ↗
How Do They Make Money?
Customers buy drug products from Sarepta, directly or through distributors; the sale is counted when the product reaches the customer, typically on delivery.
10-K for FY2025, filed Mar 2, 2026
-
10-K for FY2025, filed Mar 2, 2026
FY2025 revenue by product or service (Products, net) ↗
$2.2B
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10-K for FY2025, filed Mar 2, 2026
$2.2B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
PMO Products
Sold outright
10-K for FY2025, filed Mar 2, 2026 |
52%
FY2022: 100%
|
PMO Products, FY2025
$965.6M Sources
|
Sold outright |
|
ELEVIDYS
Sold outright
10-K for FY2025, filed Mar 2, 2026 |
48%
FY2022: 0.0%
|
ELEVIDYS, FY2025
$898.7M Sources
|
Sold outright |
Who Are Their Customers?
The company distributes medicines through specialty pharmacies and distributors, and sells directly to sites of care. PMO drugs go to patients and hospitals through home-infusion pharmacies and specialty distributors; ELEVIDYS goes to hospitals through logistics and specialty-pharmacy partners.
10-K for FY2025, filed Mar 2, 2026The Company distributes its products principally through its customers or sells directly to sites of care. When the product is distributed…View ↗
Our PMO commercial products are distributed in the U.S. through a limited network of home infusion specialty pharmacy providers that…View ↗
The U.S. distribution model for ELEVIDYS employs multiple distribution partners that include third-party logistics providers as well as a…View ↗
Do Revenues Turn Into Profits?
No. It lost $713.4M in FY2025.
10-K for FY2025, filed Mar 2, 2026
−$699.8MView ↗
10-K for FY2025, filed Mar 2, 2026
−$713.4MView ↗
10-K for FY2025, filed Mar 2, 2026
−$307.5MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 5, 2026
−$4.9MView ↗
- ▼ Now a loss
- vs $196.9M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
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Aug 5, 2026
Company narrowed its 2026 net product revenue guidance
Revenue guidance narrowed from $1.2-$1.4 billion to $1.2-$1.3 billion.
Sources
8-K, filed Aug 5, 2026
Narrowed FY 2026 Guidance: With six months remaining for the year and consistent with prior expectations toward the lower end of the…View ↗
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Jul 27, 2026
Michael Severino became CEO, succeeding Douglas Ingram
Douglas Ingram left the CEO and board roles and will advise the company through December 31, 2026.
Sources
8-K, filed Jul 27, 2026
On July 23, 2026, the Board of Directors (the “Board”) of Sarepta Therapeutics, Inc. (the “Company”) appointed Michael Severino, M.D. as…View ↗
Growing. Revenue grew 3.1x in 4 years, from $701.9M in FY2021 to $2.2B in FY2025, about 33% a year.
Added gene therapy product
The earlier report describes approved exon-skipping drugs for Duchenne; the latest report also describes ELEVIDYS, a gene therapy for Duchenne.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Mar 2, 2026To date, we have developed and commercialized the following approved products for the treatment of Duchenne:View ↗
EXONDYS 51 (eteplirsen) Injection (“EXONDYS 51”) is indicated for the treatment of Duchenne in patients who have a confirmed mutation of…View ↗
VYONDYS 53 (golodirsen) Injection (“VYONDYS 53”) is indicated for the treatment of Duchenne in patients who have a confirmed mutation of…View ↗
AMONDYS 45 (casimersen) Injection (“AMONDYS 45”) is indicated for the treatment of Duchenne in patients who have a confirmed mutation of…View ↗
Added partnered siRNA programs
The older report describes PMO and PPMO RNA approaches and gene therapy; the latest also describes partnered small-interfering-RNA programs for neuromuscular and other diseases.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Mar 2, 2026Our siRNA programs make use of Arrowhead’s targeted RNAi molecule platform and are designed to deliver siRNA to multiple tissue and cell…View ↗
Narrowed LGMD development
The earlier report describes gene therapy programs for limb-girdle muscular dystrophies; the latest says development was suspended for those programs except the beta-sarcoglycan program.
10-K for FY2022, filed Feb 28, 2023 10-K for FY2025, filed Mar 2, 2026We are also developing gene therapy programs for various forms of LGMDs. Our most advanced LGMD product candidate, SRP-9003, is designed to…View ↗
LGMDs are autosomal recessive, monogenic, rare neuromuscular diseases caused by missense and deletion mutations. These diseases affect…View ↗
Who Do They Compete With?
Competes with Nippon Shinyaku, Italfarmaco, Wave Life Sciences, Dyne Therapeutics, Avidity Biosciences, Entrada Therapeutics, Regenxbio, BioMarin Pharmaceutical, Solid Biosciences, Genethon, Insmed, Capricor Therapeutics, Arthex Biotech, PepGen, Vertex, Celularity, Biohaven Pharmaceuticals, Vico Therapeutics, Skyhawk Therapeutics, and uniQure
10-K for FY2025, filed Mar 2, 2026EXONDYS 51, VYONDYS 53 and AMONDYS 45 were the first three disease modifying therapeutics approved by the FDA for the treatment of Duchenne…View ↗
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