Aug 05, 2026 —
Sarepta Therapeutics reported second-quarter 2026 financial results, highlighted by $328.7 million in total net product revenue, operating profitability, and the appointment of Michael Severino, MD, as Chief Executive Officer.
Sarepta reported $230.6 million in net product revenue from its phosphorodiamidate morpholino oligomer, or PMO, therapies and $98.1 million in net product revenue from ELEVIDYS, its gene therapy for Duchenne muscular dystrophy. Total net product revenue for the quarter reached $328.7 million.
The company also achieved operating profitability, reporting GAAP operating income of $13.3 million and non-GAAP operating income of $86.5 million for the second quarter of 2026.
Michael Severino, MD, was appointed CEO and a member of Sarepta’s Board of Directors effective July 28, 2026. He brings more than 25 years of biopharmaceutical leadership experience, including senior roles at AbbVie, Amgen, and Merck. Former CEO Doug Ingram has retired from Sarepta and will serve in an advisory capacity through the end of 2026 to support the transition.
Sarepta said its priorities include executing its commercial strategy, advancing its siRNA pipeline, and maintaining disciplined capital allocation. The company ended the quarter with approximately $945 million in cash, cash equivalents, restricted cash, and investments, an increase of approximately $197 million during the quarter.
Several clinical milestones remain on track for the second half of 2026. Sarepta expects data readouts from multiple ascending dose cohorts in its ongoing Phase 1/2 studies in myotonic dystrophy type 1, or DM1, and facioscapulohumeral muscular dystrophy, or FSHD.
For ELEVIDYS, Sarepta expects full enrollment of ENDEAVOR Cohort 8 by year-end 2026, with 12-week data from the full cohort expected in the first quarter of 2027.
The company also reported progress in Huntington’s disease, with dosing underway in INSIGHTT, the first-in-human Phase 1 study of SRP-1005, Sarepta’s investigational siRNA candidate for Huntington’s disease.
On the regulatory front, the FDA has accepted for review Sarepta’s supplemental New Drug Applications seeking conversion of AMONDYS 45 and VYONDYS 53 from accelerated approval to traditional approval. The applications are supported by data from the ESSENCE confirmatory study, published real-world evidence, and the therapies’ established safety profiles.
Sarepta narrowed its full-year 2026 total net product revenue guidance to $1.2 billion to $1.3 billion, compared with its prior $1.2 billion to $1.4 billion range. The company also narrowed combined non-GAAP R&D and SG&A expense guidance to $800 million to $850 million.
The update reflects Sarepta’s continued focus on precision genetic medicine for rare diseases, with commercial revenue from PMO therapies and ELEVIDYS supporting advancement of its broader pipeline in neuromuscular and neurodegenerative disorders.
