Sarepta cuts 36% of workforce and reports $513 million in preliminary Q2 product revenue
Sarepta said it will cut about 36% of its workforce, roughly 500 employees, as part of a restructuring that pauses most limb-girdle muscular dystrophy gene therapy programs and focuses on siRNA candidates. It also reported preliminary second-quarter 2025 net product revenue of $513 million and said the FDA has requested a black box warning for ELEVIDYS, while several executives were reassigned or named to new roles. The filing gives no prior-period revenue comparison, and the one-time charge and label change may weigh on shareholders.
Key points
- Board approved a reduction in force of about 36% of workforce on July 14, 2025, with a one-time third-quarter 2025 charge estimated at $32 million to $37 million, nearly all cash
- Preliminary Q2 2025 total net product revenue was $513 million, including $282 million from ELEVIDYS and $231 million from RNA-based PMOs; final results are due in early August 2025
- FDA requested a black box warning for acute liver injury and acute liver failure in the ELEVIDYS label, which Sarepta agreed to
- Ian Estepan named President and Chief Operating Officer and Ryan Wong named Chief Financial Officer, both effective July 16, 2025; Dallan Murray, Chief Customer Officer, is departing
The filing
Written by AI on Nov 8, 2026, 1:54 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 16, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.