Company: SRPT
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029973
Chunk: 314

Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 314
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        For the Year Ended December 31,

        2024

        2023

        (in thousands)

        Contract manufacturing revenue
        $
        49,038

        $
        9,216

        Royalty revenue
         
        16,981

        —

        Cost of sales (inventory costs related to products sold to Roche)
         
        (22,247
        )

        (1,818
        )
       
      The costs associated with co-development activities performed under the Roche Agreement are included in operating expenses, with any reimbursement of costs by Roche reflected as a reduction of such expenses when the related expense is incurred. For the years ended December 31, 2024, 2023 and 2022, costs reimbursable by Roche and reflected as a reduction to operating expenses were $127.1 million, $106.9 million and $117.8 million, respectively. As of December 31, 2024 and 2023, there were $34.6 million and $29.8 million of collaboration and other receivables included in other current assets on the consolidated balance sheets, respectively. GenethonThe Company entered into a sponsored research agreement in May 2017 and subsequently a license and collaboration agreement with Genethon in November 2019 (the “Genethon Collaboration Agreement”) for Genethon’s micro-dystrophin gene therapy program for the treatment of Duchenne. The Genethon Collaboration Agreement grants the Company with exclusive rights in the majority of the world (primarily excluding the EU) to Genethon’s micro-dystrophin gene therapy products (“Genethon Products”) and other micro-dystrophin gene therapy products.Upon signing the Genethon Collaboration Agreement, the Company made an up-front payment of $28.0 million, which was recorded as research and development expense in the Company’s consolidated statements of comprehensive loss for the year ended December 31, 2019. Additionally, for the years ended December 31, 2024, 2023 and 2022, the Company recorded $6.8 million, $6.6 million and $3.5 million, respectively, of research and development expense related to reimbursable development costs incurred by Genethon for Genethon Products. For the years ended December 31, 2024, 2023 and 2022, there were no development or regulatory milestones deemed probable of being achieved and, accordingly,