Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Q4 2019 Earnings Conference Call - Final Transcript

Feb 26, 2020 • 04:30 pm ET


Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Q4 2019 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by and welcome to the Sarepta Therapeutics Fourth Quarter 2019 Earnings Call. At this time all participants are in a listen-only mode. After the speaker's presentation there will be a question-and-answer session. [Operator Instructions]. As a reminder, today's program may be recorded.

I would now like to introduce your host for today's program, Ian Estepan, Senior Vice President, Chief of Staff and Corporate Affairs. Please go ahead, sir.

Ian Estepan

Thank you so much, Jonathan, and thank you all for joining today's call. Earlier today, we released our financial results for the fourth quarter and full-year 2019. The press release is available on our website at and our 10-K was filed with the SEC earlier this afternoon.

Joining us on the call today are Doug Ingram, Sandy Mahatme, Bo Cumbo, Dr. Gilmore O'Neill and Dr. Louise Rodino-Klapac. After our formal remarks, we'll open up the call 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 the 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 could materially differ from these forward-looking statements and any and such risk can materially and adversely affect the business, the results of operations and trading price for Sarepta's common stock. For a detailed description of applicable risks and uncertainties, we encourage you to review the company's most recent annual report on Form 10-K 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 projection provided today based on subsequent events or circumstances.

And with that, I'd like to turn the call over to Doug Ingram for corporate update.

Douglas S. Ingram

Thank you, Ian. Good afternoon and thank you all for joining Sarepta Therapeutics fourth quarter 2019 conference call.

In 2018, we defined our vision to become one of the world's leaders in precision genetic medicine to treat rare disease, founded both on our precise and efficient RNA platform and on the build of a gene therapy engine capable of rapidly advancing multiple constructs through development into the patient community.

In 2019, we executed, further matured, and brought that vision into greater focus, and in 2020 -- through 2020, we will, if successful, realize much of that vision.

We have an enormous number of milestones in 2020, but before we discuss them, let us review the progress that we have made in 2019. I will begin with our RNA platform

As we announced at the JP Morgan conference in January, our fourth quarter 2019 revenue stands at $100 million. In our third full year since launch, our 2019 revenue was $381 million, a 26% increase over prior year. I will remind you that we have never taken a price increase since launch. So, our growth comes from continuing to serve the