Company: SRPT
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029973
Chunk: 319

Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1
Chunk 319
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2022, the Company recognized approximately $13.2 million and $32.6 million relating to certain up-front, milestone, settlement and other payments as research and development expense, respectively, under these agreements, with no similar activity for the year ended December 31, 2024.

4. GAIN FROM SALE OF PRIORITY REVIEW VOUCHERIn June 2023, the Company entered into an agreement to sell the rare pediatric disease Priority Review Voucher (the “ELEVIDYS PRV”) it received from the FDA in connection with the approval of ELEVIDYS for consideration of $102.0 million, with no commission costs. The closing of the transaction was not subject to the conditions set forth under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and closed in June 2023. The net proceeds were recorded as a gain from sale of the ELEVIDYS PRV during the year ended December 31, 2023, as it did not have a carrying value at the time of the sale.

5. FAIR VALUE MEASUREMENTSThe tables below present information about the Company’s financial assets and liabilities that are measured and carried at fair value and indicate the level within the fair value hierarchy of the valuation techniques it utilizes to determine such fair value:  

        Fair Value Measurement as of December 31, 2024

        Total

        Level 1

        Level 2

        Level 3

        (in thousands)

        Assets

        Money market funds
         
        $
        455,535

        $
        455,535

        $
        —

        $
        —

        Government and government agency bonds

        279,899

        —

        279,899

        —

        Corporate bonds

        93,727

        —

        93,727

        —

        Strategic investments

        3,710

        2,710

        —

        1,000

        Certificates of deposit

        11,319

        —

        11,319

        —

        Total assets
         
        $
        844,190

        $
        458,245

        $
        384,945

        $
        1,000

        Liabilities

        Contingent consideration
         
        $
        47,400

        $
        —

        $
        —

        $
        47,400

        Total liabilities