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Sarepta Therapeutics' Q2 net loss widens YOY

Sarepta Therapeutics Inc.'s non-GAAP net loss came to 83 cents per share in the second quarter, compared with the S&P Global Market Intelligence consensus normalized EPS estimate loss of 77 cents per share.

The Cambridge, Mass.-based company's loss per share was 43 cents in the year-ago period. Non-GAAP net loss widened by 118.6% to $61.2 million from $28 million in the prior-year period.

GAAP net loss increased by 152.9% from the prior-year period to $276.4 million, or $3.74 per share, from $109.3 million, or $1.67 per share.

The company noted that it recorded acquired in-process research and development expense of about $173.2 million during the second quarter related to its acquisition of gene therapy developer Myonexus Therapeutics Inc.

Sarepta said its revenues in the quarter climbed 28.8% year over year to $94.7 million from $73.5 million. The company develops RNA-based therapeutics for treating rare neuromuscular diseases.