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Sarepta Therapeutics, Inc. (SRPT - Free Report) reported a first-quarter 2026 adjusted earnings per share (EPS) of $3.16, which beat the Zacks Consensus Estimate of 90 cents. In the year-ago quarter, the company posted a loss of $3.42 per share due to a one-time charge incurred to close the multi-billion-dollar collaboration deal with Arrowhead Pharmaceuticals .
The adjusted figures exclude depreciation and amortization costs, stock-based compensation expenses, gains on strategic investments and certain interest expense/income. Including these items, EPS during the quarter was $2.88 against a loss of $4.60 in the year-ago period.
Sarepta recorded total revenues of $730.8 million, down 2% year over year. This downtick was due to lower sales of Elevidys, its one-shot gene therapy for Duchenne muscular dystrophy (DMD). Yet, the figure beat the Zacks Consensus Estimate of about $468 million.
SRPT’s Stock Performance
Year to date, Sarepta’s shares have gained 7% against the industry’s 2% decline.
Image Source: Zacks Investment Research
More on SRPT’s Earnings
Sarepta’s commercial portfolio includes three approved RNA-based PMO therapies — Exondys 51, Vyondys 53 and Amondys 45 — and Elevidys, all targeting DMD. Product revenues fell 46% year over year to $330.5 million.
The company recorded $228.6 million from the product sales of its three PMO therapies, down 3% year over year. The figure beat the Zacks Consensus Estimate of $227 million.
Sarepta generated $102 million from Elevidys sales, down 73% year over year, primarily due to its decision to suspend shipments to non-ambulatory patients in June 2025 amid safety concerns. The therapy’s sales also beat the Zacks Consensus Estimate of $97 million.
SRPT recorded $400.3 million in collaboration and other revenues, compared to $133.3 million in the year-ago period. This increase was primarily driven by higher collaboration revenues related to Roche’s (RHHBY - Free Report) declined option for certain program rights, milestone payments tied to the first commercial dosing of Elevidys in Japan and higher Elevidys supply shipments to Roche.
Sarepta and Roche entered into a licensing agreement in 2019 to develop Elevidys. Per the agreement, RHHBY has exclusive rights to launch and market Elevidys in ex-U.S. markets.
Discussion on SRPT’s Operating Costs
Adjusted research and development (R&D) expenses totaled $137.5 million, down 82% year over year. This decline was primarily due to the recognition of $583.6 million in upfront and collaboration license fees paid to Arrowhead in the year-ago period.
Sarepta expects net product guidance to be between $1.2 billion and $1.4 billion.
The company forecasts combined adjusted R&D and SG&A expenses in the $800-$900 million range.
Updates on SRPT’s Pipeline & Other News
Last month, the company submitted regulatory filings to the FDA seeking to convert the accelerated approvals granted for Vyondys 53 and Amondys 45 into full/traditional approvals. These filings are supported by data from a late-stage confirmatory study and substantial real-world evidence.
In March, SRPT announced that screening and enrollment are underway in cohort 8 of the phase Ib ENDEAVOR study. This cohort is designed to improve the safety profile of Elevidys in non-ambulatory patients by combining it with an enhanced sirolimus-based immunosuppressive regimen. Data from this cohort will be used to determine whether administering sirolimus before or after Elevidys infusion can help reduce the risk of acute liver complications.
In March, Sarepta also reported promising early results from two ongoing phase I/II studies — one for SRP-1001 for facioscapulohumeral muscular dystrophy type I (FSHD1) and another for SRP-1003 for myotonic dystrophy type I (DM1). The data showed that both drugs, which were acquired from Arrowhead last year, achieved high muscle concentrations without dose-limiting toxicity in patients.
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Sarepta's Q1 Earnings & Sales Beat Estimates, '26 Outlook Maintained
Key Takeaways
Sarepta Therapeutics, Inc. (SRPT - Free Report) reported a first-quarter 2026 adjusted earnings per share (EPS) of $3.16, which beat the Zacks Consensus Estimate of 90 cents. In the year-ago quarter, the company posted a loss of $3.42 per share due to a one-time charge incurred to close the multi-billion-dollar collaboration deal with Arrowhead Pharmaceuticals .
The adjusted figures exclude depreciation and amortization costs, stock-based compensation expenses, gains on strategic investments and certain interest expense/income. Including these items, EPS during the quarter was $2.88 against a loss of $4.60 in the year-ago period.
Sarepta recorded total revenues of $730.8 million, down 2% year over year. This downtick was due to lower sales of Elevidys, its one-shot gene therapy for Duchenne muscular dystrophy (DMD). Yet, the figure beat the Zacks Consensus Estimate of about $468 million.
SRPT’s Stock Performance
Year to date, Sarepta’s shares have gained 7% against the industry’s 2% decline.
Image Source: Zacks Investment Research
More on SRPT’s Earnings
Sarepta’s commercial portfolio includes three approved RNA-based PMO therapies — Exondys 51, Vyondys 53 and Amondys 45 — and Elevidys, all targeting DMD. Product revenues fell 46% year over year to $330.5 million.
The company recorded $228.6 million from the product sales of its three PMO therapies, down 3% year over year. The figure beat the Zacks Consensus Estimate of $227 million.
Sarepta generated $102 million from Elevidys sales, down 73% year over year, primarily due to its decision to suspend shipments to non-ambulatory patients in June 2025 amid safety concerns. The therapy’s sales also beat the Zacks Consensus Estimate of $97 million.
SRPT recorded $400.3 million in collaboration and other revenues, compared to $133.3 million in the year-ago period. This increase was primarily driven by higher collaboration revenues related to Roche’s (RHHBY - Free Report) declined option for certain program rights, milestone payments tied to the first commercial dosing of Elevidys in Japan and higher Elevidys supply shipments to Roche.
Sarepta and Roche entered into a licensing agreement in 2019 to develop Elevidys. Per the agreement, RHHBY has exclusive rights to launch and market Elevidys in ex-U.S. markets.
Discussion on SRPT’s Operating Costs
Adjusted research and development (R&D) expenses totaled $137.5 million, down 82% year over year. This decline was primarily due to the recognition of $583.6 million in upfront and collaboration license fees paid to Arrowhead in the year-ago period.
Adjusted selling, general & administrative (SG&A) expenses declined 20% to $86.1 million, primarily due to the company’s restructuring plan launched last year in July.
SRPT Reiterates 2026 Guidance
Sarepta expects net product guidance to be between $1.2 billion and $1.4 billion.
The company forecasts combined adjusted R&D and SG&A expenses in the $800-$900 million range.
Updates on SRPT’s Pipeline & Other News
Last month, the company submitted regulatory filings to the FDA seeking to convert the accelerated approvals granted for Vyondys 53 and Amondys 45 into full/traditional approvals. These filings are supported by data from a late-stage confirmatory study and substantial real-world evidence.
In March, SRPT announced that screening and enrollment are underway in cohort 8 of the phase Ib ENDEAVOR study. This cohort is designed to improve the safety profile of Elevidys in non-ambulatory patients by combining it with an enhanced sirolimus-based immunosuppressive regimen. Data from this cohort will be used to determine whether administering sirolimus before or after Elevidys infusion can help reduce the risk of acute liver complications.
In March, Sarepta also reported promising early results from two ongoing phase I/II studies — one for SRP-1001 for facioscapulohumeral muscular dystrophy type I (FSHD1) and another for SRP-1003 for myotonic dystrophy type I (DM1). The data showed that both drugs, which were acquired from Arrowhead last year, achieved high muscle concentrations without dose-limiting toxicity in patients.
Sarepta Therapeutics, Inc. Price
Sarepta Therapeutics, Inc. price | Sarepta Therapeutics, Inc. Quote
SRPT’s Zacks Rank
Sarepta currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here.