Sarepta posts 13% sales growth for 2nd-qtr

US precision genetic rare diseases specialist Sarepta Therapeutics (Nasdaq: SRPT) yesterday reported financial results for the second quarter 2023.

For the three months ended June 30, the company recorded total revenues of $261.2 million, which consist of net product revenues and collaboration revenues, compared to total revenues of $233.5 million for the same period of 2022, an increase of 13%. Nevertheless, Sarepta’s shares closed own 2.6% at $105.57.

On a generally accepted accounting principles (GAAP) basis, net loss came in at $23.9 million, or $0.27 per basic and diluted share, compared to a GAAP net loss of $231.5 million reported for the same period of 2022, or $2.65 per basic and diluted share. The non-GAAP net loss for the three months was $75.2 million, or $0.85 per basic and diluted share, compared to a non-GAAP net loss of $103.0 million, or $1.18 per basic and diluted share for the same period of 2022.