Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Q1 2024 Earnings Call Transcript

On a non-GAAP basis, the SG&A expenses were $100.5 million for the first quarter of 2024, compared to $83.3 million for the same period of 2023, an increase of $17.2 million. On a GAAP basis, we recorded $6.5 million in other income net for the first quarter of 2024, compared to $12.7 million for the same period of 2023. The change was primarily due to an increase in the fair value of our contingent consideration liability. We remain well-capitalized with approximately $1.4 billion in cash, cash equivalents and investments in long-term restricted cash as of March 31, 2024, and we have the resources on hand to support a successful launch in the event of a potential label expansion. And with that, I’ll turn the call back over to Doug for closing comments.

Doug?

Douglas Ingram: Thank you, Ian. Thank you very much, and thank you all for joining us this evening. As I mentioned at the beginning of this call, given the stage of our BLA supplement review, we’re in a quiet period right now, and we cannot entertain questions this evening. As I also mentioned at the beginning, we should be receiving our draft to ELEVIDYS label very shortly. So the next few months will be enormously consequential ones. Certainly for Sarepta, but more importantly, for the thousands of Duchenne families who eagerly await access to this therapy. I look forward to updating all of you once we conclude our BLA supplement review. And with that, be well, and have a good evening.

Operator: Thank you for your participation in today’s conference. This does conclude the program. You may now disconnect. Everyone, have a great day.

End of Q&A: