Company: SRPT
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029973
Chunk: 18

Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 18
---
    $
    (188,295
    )

    (11
    )%

    Borrowings:

    Convertible debt
     
    $
    1,137,124

    $
    1,237,998

    $
    (100,874
    )

    (8
    )%

    Total borrowings
     
    $
    1,137,124

    $
    1,237,998

    $
    (100,874
    )

    (8
    )%

    Working capital

    Current assets
     
    $
    3,073,463

    $
    2,579,331

    $
    494,132

    19
    %

    Current liabilities

    731,684

    653,659

    78,025

    12
    %

    Total working capital
     
    $
    2,341,779

    $
    1,925,672

    $
    416,107

    22
    %

For 2024 and 2023, our principal sources of liquidity were primarily derived from sales of our products, net proceeds from sale of the ELEVIDYS PRV, proceeds from the settlement of capped call options associated with the 2024 Notes (the “2017 Capped Calls”) and our collaboration arrangement with Roche. Our principal uses of cash are research and development expenses, manufacturing costs, selling, general and administrative expenses, investments, capital expenditures, business development transactions, settlement of long-term debt and other working capital requirements. Refer to Note 13, Indebtedness and Note 19, Leases for additional discussion of our outstanding indebtedness and material changes to our leasing obligations, respectively. The changes in our working capital primarily reflect the use of cash in operating activities, as well as an increase in inventory due to the capitalization of ELEVIDYS inventory after its approval in June 2023. While our contractual obligations, commitments and debt service requirements over the next several years are significant, we intend to continue to fund our short-term financing needs and working capital requirements from cash flows of operating activities as well as cash on hand and such sources are anticipated to be adequate to fund working capital requirements for at least twelve months from the date these consolidated financial statements were issued.

Beyond 2025, our cash requirements will depend extensively on our ability to advance our research, development and commercialization of product candidates. We may seek