Company: SRPT
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029973
Chunk: 457

Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 9A
Chunk 457
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 based on the expectation that the Company would realize no future cash flows associated with its investment in Lacerta. The impairment loss is included in other income (expense), net within the consolidated statements of comprehensive income (loss). During the year ended December 31, 2022, the company recorded impairment losses of $2.6 million related to its strategic investments.The following table represents a roll-forward of the fair value of Level 3 financial liabilities for each of the periods indicated: 

        As of December 31,

        2024

        2023

        (in thousands)

        Fair value, beginning of year
         
        $
        38,100

        $
        36,900

        Change in estimated fair value

        9,500

        2,000

        Liabilities terminated

        (200
        )

        (800
        )

        Fair value, end of year
         
        $
        47,400

        $
        38,100

      A net increase of $9.3 million and $1.2 million were recorded in other income (expense), net in the consolidated statement of comprehensive income (loss) during the years ended December 31, 2024 and 2023, respectively, to account for the change in fair value and termination of liabilities of the Company's existing contingent consideration liabilities. These changes were a result of updates made to certain inputs and assumptions impacting the probability-weighted expected cash flows, principally the probability of success of the underlying programs and the discount rate utilized to determine the present value of future payments to be made, partially offset by the termination of a license agreement with an academic institution that included an embedded derivative during both years ended December 31, 2024 and 2023. As of December 31, 2024 and 2023, the remaining contingent consideration was recorded as a non-current liability on the Company's consolidated balance sheets.The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, accounts receivable, net and accounts payable approximated fair value because of the immediate or short-term maturity of these financial instruments. For fair value information related to the Company’s debt facilities, please read Note 13, Indebtedness.

6. CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIESThe following table summarizes the Company’s financial assets with maturities of less than 90 days from the date of purchase included in cash equivalents in the consolidated balance sheets