Sarepta Therapeutics,, Inc. - SRPT STOCK NEWS

Sarepta Therapeutics (NASDAQ:SRPT) has granted equity awards to 14 new employees hired in November 2024. The awards, approved under the company's 2024 Employment Commencement Incentive Plan, consist of 8,040 restricted stock units (RSUs). These RSUs will vest over four years, with one-fourth vesting annually on the grant date anniversary. The equity awards were granted as employment inducements in compliance with Nasdaq Listing Rule 5635(c)(4).

Arrowhead Pharmaceuticals announced a global licensing and collaboration agreement with Sarepta Therapeutics. The deal includes an immediate $825 million payment ($500M cash + $325M equity investment at 35% premium), plus $250 million over five years. Arrowhead is eligible for $300 million in near-term clinical trial milestone payments and up to $10 billion in future milestones plus royalties.

The agreement covers multiple clinical and preclinical programs in rare genetic diseases affecting muscle, CNS, and lungs. Sarepta can select up to six new targets using Arrowhead's TRiM™ platform. The transaction extends Arrowhead's cash runway into 2028 and is expected to close in early 2025.

Sarepta Therapeutics announces a global licensing and collaboration agreement with Arrowhead Pharmaceuticals for multiple siRNA programs. Sarepta will obtain exclusive worldwide rights to four clinical-stage and three preclinical-stage programs targeting muscle, CNS, and rare pulmonary disorders. The deal includes a $500 million upfront payment and $325 million equity investment at a 35% premium to Arrowhead, plus future milestone payments and royalties. Additionally, both companies entered a discovery partnership for six targets. Sarepta's Board has approved a $500 million share repurchase program. The transaction is expected to close in early 2025.

Sarepta Therapeutics reported strong financial results for Q3 2024, with net product revenues totaling $429.8 million, a 39% increase YoY. ELEVIDYS net product revenue was $181.0 million, exceeding prior guidance, with an additional $9.5 million from Roche's sales royalties. Total ELEVIDYS performance reached $190.5 million for the quarter. The company achieved GAAP and non-GAAP net incomes of $33.6 million and $67.0 million respectively. Sarepta also announced the discontinuation of the SRP-5051 development program and shared positive data from its SRP-9001 clinical trials. The CEO highlighted the progress in their pipeline, including plans to submit a Biologics License Application by mid-2025 and start clinical trials for two other programs. The company also published five-year functional results from Study SRP-9001-101 and EMBARK study results in Nature Medicine, showing clinical benefits and favorable safety profiles. For the nine months ended September 30, 2024, total revenues were $1.24 billion, a 47% increase YoY.

Sarepta Therapeutics (NASDAQ:SRPT) has granted equity awards to 15 new employees hired in October 2024. The awards, consisting of 12,165 restricted stock units (RSUs), were approved by the Compensation Committee under the company's 2024 Employment Commencement Incentive Plan. The RSUs will vest over four years, with one-fourth vesting annually on the grant date anniversary. Sarepta, a leader in precision genetic medicine for rare diseases, maintains leadership positions in Duchenne muscular dystrophy and limb-girdle muscular dystrophies, with over 40 programs in development.

Sarepta Therapeutics (NASDAQ:SRPT), a precision genetic medicine company focusing on rare diseases, has scheduled its third quarter 2024 financial results announcement for Wednesday, November 6, 2024, after the Nasdaq market closes. The company will host a conference call at 4:30 p.m. ET to discuss the results. The event will be webcast live on Sarepta's investor relations website, with a replay available for one year. Phone participants must register online to receive dial-in details and personal PIN numbers for access.

Sarepta Therapeutics (NASDAQ:SRPT), a leader in precision genetic medicine for rare diseases, has granted equity awards to 28 new employees hired in September 2024. The awards, approved by the Compensation Committee under the company's 2024 Employment Commencement Incentive Plan, include a total of 23,580 restricted stock units (RSUs). These RSUs will vest over four years, with one-fourth vesting annually on the grant date anniversary, subject to continued employment. The grants were made in accordance with Nasdaq Listing Rule 5635(c)(4) as a material inducement to employment.

Sarepta, focused on developing treatments for Duchenne muscular dystrophy (DMD) and limb-girdle muscular dystrophies (LGMDs), currently has over 40 programs in various stages of development. The company's pipeline is driven by its multi-platform Precision Genetic Medicine Engine in gene therapy, RNA, and gene editing.

Sarepta Therapeutics (NASDAQ:SRPT) will present new data from its neuromuscular portfolio at the 29th Annual Congress of the World Muscle Society 2024 (WMS 2024) in Prague, Czechia, from Oct. 8-12, 2024.

Highlights include new safety and efficacy results from several studies in the delandistrogene moxeparvovec clinical development program, including Studies 9001-101, 9001-103 (ENDEAVOR), and 9001-301 (EMBARK). Notable presentations are:

• Muscle MRI outcomes in patients with Duchenne Muscular Dystrophy (DMD) treated with delandistrogene moxeparvovec from the EMBARK study on Oct. 12, 2024.
• Long-term safety and tolerability data from phase 1 to phase 3 clinical trials of delandistrogene moxeparvovec on Oct. 11, 2024.

Additional poster presentations cover various aspects of delandistrogene moxeparvovec's safety, efficacy, and functional outcomes over five years. The full WMS 2024 program is available at the event's website.

Sarepta Therapeutics (NASDAQ:SRPT) has appointed Deirdre P. Connelly to its Board of Directors, expanding the board to nine members, with eight being independent. Connelly brings over 30 years of pharmaceutical industry experience, having served as president of North America Pharmaceuticals for GlaxoSmithKline and president of U.S. Pharmaceutical Operations at Eli Lilly. Her extensive background includes executive roles in human resources and pharmaceutical operations.

Currently, Connelly serves on the boards of Macy's and Lincoln Financial Group, and is the Chairperson of the Board at Genmab A/B. This appointment aligns with Sarepta's strategy to deliver transformative therapies for rare diseases, leveraging Connelly's seasoned leadership and industry expertise.