Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Q4 2018 Earnings Conference Call - Final Transcript

Feb 27, 2019 • 04:30 pm ET


Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Q4 2018 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen, and welcome to the Sarepta Therapeutics Fourth Quarter and Full Year 2018 Earnings Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will be given at that time.

(Operator Instructions)

As a reminder today's program is being recorded. And now, I'd like to introduce your host for today's program, Ian Estepan, Vice President, Chief of Staff and Corporate Affairs. Please go ahead.

Ian Estepan

Thank you Southie. Thank you all for joining today's call. Earlier today, we released our financial results for the fourth quarter and year-end 2018. The press release is available on our website at Joining us on the call today are Doug Ingram; Sandy Mahatme, Bo Cumbo, Gilmore O'Neill, and Louise Rodino-Klapac.

After our formal remarks, we'll open the call up for Q&A. I'd like to note that during this call, we'll be making a number of forward-looking statements. Please take a moment to review our slide on webcast, which contains our forward-looking statements. These forward-looking statements involve risks and uncertainties, any of which are beyond Sarepta's control.

Actual results can materially differ from these forward-looking statements and any such risks can materially and adversely affect the business, the results of operations and trading prices of Sarepta's common stock.

For a detailed description of applicable risks and uncertainty, we encourage you to review the Company's most recent Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission, as well as the Company's other SEC filings. The Company does not undertake any obligation to publicly update its forward-looking statements, including any financial projections provided today, based on subsequent events or circumstances.

With that, let me turn the call over to our CEO, Doug Ingram, who will provide an overview of our recent progress. Doug?

Douglas S. Ingram

Thank you, Ian. Good afternoon and thank you all for joining Sarepta Therapeutics for its fourth quarter and year-end 2018 results as well as our corporate update conference call. I would add that you indulge me as we have much to discuss today. Before we discuss the fourth quarter results, let us put it all in context of the full year of 2018.

I do not believe, I went hyperbole, when I say that 2018 was a monumental one for Sarepta. We not only successfully met or exceeded the great majority of our objectives for the year, but we went further. We redefined and enhanced our ambition as an organization and we took steps by taking significant leaps forward in the service of our vision, to use our genetic medicine engine to rescue and greatly improve the lives of thousands of those living with and far too often dying from rare genetic disease.

In the full year of 2018, we achieved another successful year of EXONDYS sales with net revenue standing at $301 million or about 98% year-over-year growth. We also met with the FDA and in collaboration with the agency, we defined an efficient pathway for our