Sarepta Therapeutics, Inc. SEC Filings

State Street Corporation and its affiliate SSGA Funds Management, Inc. report significant beneficial ownership of Sarepta Therapeutics common stock. State Street and related entities report beneficial ownership of 8,916,103 shares, representing 8.4% of the common stock, with 8,642,126 shares having shared voting power and all 8,916,103 shares having shared dispositive power and no sole voting or dispositive power.

Separately, SSGA Funds Management, Inc. reports beneficial ownership of 6,285,547 shares, or 6% of the class, with shared voting power over 6,271,147 shares and shared dispositive power over 6,285,547 shares. The securities are held through various State Street investment adviser and bank subsidiaries identified in the filing.

Sarepta Therapeutics reported Q2 2026 results with total revenues of $401.3 million, down 34% year over year. The decline mainly reflects lower ELEVIDYS sales under an ambulatory-only label and the absence of a prior-year Roche milestone, partly offset by higher contract manufacturing and $10.0 million of license revenue. Net product revenue was $328.7 million, including $230.6 million from PMO therapies and $98.1 million from ELEVIDYS.

GAAP operating income was $13.3 million and non-GAAP operating income $86.5 million, while GAAP net loss was $4.9 million and non-GAAP net income $78.6 million ($0.64 per diluted share). For the first half of 2026, revenues were $1.13 billion and GAAP net income $326.1 million in a period that also featured sharply lower R&D and SG&A expenses and higher Roche collaboration revenue.

The company ended June 30, 2026 with approximately $945.0 million in cash, cash equivalents, restricted cash and investments. Full-year 2026 total net product revenue guidance was narrowed to $1.2–$1.3 billion, and combined non-GAAP R&D and SG&A expense guidance to $800.0–$850.0 million. Sarepta also recorded a $39.0 million litigation contingency charge related to potential patent settlements, appointed Michael Severino, MD, as CEO, advanced its Huntington’s disease siRNA program, and reported regulatory progress for AMONDYS 45, VYONDYS 53 and gene therapy ELEVIDYS.

Sarepta Therapeutics, a commercial-stage rare disease biotech focused on RNA and gene therapies, reported Q2 2026 total revenues of $401.3 million, down from $611.1 million a year earlier. The quarter showed a small net loss of $4.9 million (basic and diluted loss per share of $0.05), compared with net income of $196.9 million in Q2 2025. For the first six months of 2026, total revenues were $1.13 billion and net income was $326.1 million (basic EPS $3.10), versus a loss of $250.6 million in the prior-year period. Results include a $39.0 million litigation contingency charge and $11.6 million write-down of obsolete ELEVIDYS inventory.

Net product revenues for the first half of 2026 were $659.2 million, including $459.1 million from PMO exon-skipping products and $200.1 million from ELEVIDYS. Collaboration and other revenue benefited from the Roche agreement, with $365.0 million recognized in the first half, including $325.0 million from an unexercised option and a $40.0 million milestone for the first commercial patient in Japan. As of June 30, 2026, Sarepta held $945.0 million in cash, cash equivalents, restricted cash and investments and total stockholders’ equity of $1.53 billion, and believed available resources and its revolving credit facility are sufficient to fund its operational plan for at least twelve months. ELEVIDYS carries a boxed warning for acute liver injury and is currently labeled only for ambulatory patients; Sarepta is running additional studies, including sirolimus-based immunosuppression for non-ambulatory patients, and intends to discuss a potential path to resume dosing in that population with the FDA.

Vanguard Portfolio Management LLC, on behalf of certain affiliated entities and accounts, reports updated passive ownership of Sarepta Therapeutics Inc. common stock on an amended Schedule 13G. As of June 30, 2026, Vanguard Portfolio Management is deemed to beneficially own 8,499,421 shares of Sarepta common stock, representing 8.05% of the class.

The filer has sole voting power over 121,951 shares and sole dispositive power over 8,499,421 shares, with no shared voting or dispositive power. The position includes shares held by Vanguard funds and other managed accounts for which Vanguard Portfolio Management or certain affiliates exercise voting and/or dispositive authority. Dividends and sale proceeds are attributable to those funds and clients, and no other single person has an interest in more than 5% of the class through these holdings.

BlackRock, Inc. reports significant ownership in Sarepta Therapeutics Inc common stock under an amended Schedule 13G. BlackRock and certain of its reporting business units beneficially own 16,642,620 shares of Sarepta common stock, representing 15.8% of the outstanding class as of the reporting date.

BlackRock has sole voting power over 16,353,161 shares and sole dispositive power over 16,642,620 shares, with no shared voting or dispositive power reported. The filing notes that one holder, iShares Core S&P Small-Cap ETF, has an interest in more than five percent of Sarepta’s outstanding common stock. The disclosure reflects only securities held by specified BlackRock business units, excluding those disaggregated under SEC Release No. 34-39538.

Sarepta Therapeutics, Inc. reported that Chief Executive Officer Michael Severino received significant equity awards on 2026-07-28. He was granted 2,224,342 stock options with a $17.74 exercise price, expiring 2036-07-28; 25% vests on 2027-07-28 and the remainder vests monthly over four years. He also received 756,104 restricted stock units, each for one share of common stock, vesting in substantially equal annual installments over four years, bringing his reported direct holdings to 2,224,342 options and 756,104 shares.

Sarepta Therapeutics, Inc. reported insider information for Michael Severino, who is identified as both a director and the company’s Chief Executive Officer. This Form 3 report lists no equity transactions or holdings, serving only to establish his status as a reporting insider.

Sarepta Therapeutics appointed Michael Severino, M.D. as Chief Executive Officer effective July 28, 2026, and as a Class I director serving until the 2028 annual meeting. He succeeds Douglas Ingram, who will step down as CEO and director on that date and remain as a consultant through December 31, 2026.

Under an employment agreement dated July 24, 2026, Dr. Severino receives an annual base salary of $1,180,000 and is eligible for a target bonus equal to 110% of base salary, with his 2026 bonus paid at 100% of target and prorated. He will receive a $35,000,000 sign-on equity package combining restricted stock units and premium priced stock options, with multi‑year vesting schedules. For a qualifying termination, he is entitled to salary continuation, bonus-related payments, COBRA premium support, outplacement services up to $20,000, and specified equity acceleration, with enhanced cash and full equity acceleration if the termination occurs within the defined change of control period. Mr. Ingram will be paid $15,000 per month under his consulting agreement.

Boor Kathryn Jean reported acquisition or exercise transactions in this Form 4 filing.

Sarepta Therapeutics, Inc. director Kathryn Jean Boor received an equity grant in the form of restricted stock units. She was granted 16,875 RSUs, each representing one share of common stock, at no cash cost. The RSUs vest on the earlier of the one-year anniversary of the grant date or the next annual meeting of stockholders that is at least 50 weeks after the prior year's meeting. Following this grant, she directly holds 25,138 shares of common stock.