Company: SRPT
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029973
Chunk: 265

Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 265
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14,375

    $
    1,178,750

    $
    1,193,125

    Lease obligations (2)

    24,396

    328,762

    353,158

    Manufacturing obligations (3)

    943,067

    293,434

    1,236,501

    Total obligations under debt, lease and manufacturing arrangements
     
    $
    981,838

    $
    1,800,946

    $
    2,782,784

(1) Interest payments are included within the future debt obligations. 

(2) Lease obligations only include real estate leases that had commenced prior to December 31, 2024. 

(3) The leases embedded in a certain supply agreement are included in manufacturing obligations. The increase in short-term manufacturing commitments is primarily driven by ramp-up of ELEVIDYS manufacturing activities as a result of anticipated increase in demand.

For products and product candidates that are currently approved or are in various research and development stages, we may be obligated to make up to $2.3 billion of future development, regulatory, up-front royalty and sales milestone payments associated with our license and collaboration agreements. Excluded from this metric are $10.3 billion of future development, regulatory and sales milestone payments associated with our license and collaboration agreement with Arrowhead, as the transaction had not closed as of December 31, 2024. When the license and collaboration agreement with Arrowhead became effective in February 2025, we paid Arrowhead an up-front payment of $500.0 million and invested $325.0 million in Arrowhead's common stock at a premium to the valuation on the closing date. Payments under these agreements generally become due and payable upon achievement of certain development, regulatory or commercial milestones. Because the achievement of these milestones is not probable and payment is not required as of December 31, 2024, such contingencies have not been recorded in our consolidated financial statements. Amounts related to contingent milestone payments are not yet considered contractual obligations as they are contingent on the successful achievement of certain development, regulatory approval and commercial milestones.

-80-

Cash Flows

The following table summarizes our cash flow activity for each of the periods indicated: 

    For the Year Ended December 31,

    2024

    2023

    Change

    Change

    (in thousands)

    $

    %

    Cash (used in) provided by

    Operating activities