Company: SRPT
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029973
Chunk: 15

Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 15
---
 For the Year Ended December 31,

    2024

    2023

    Change

    Change

    (in thousands)

    $

    %

    Professional services
     
    $
    183,505

    $
    158,279

    $
    25,226

    16
    %

    Compensation and other personnel expenses

    171,508

    157,317

    14,191

    9
    %

    Stock-based compensation

    110,290

    100,025

    10,265

    10
    %

    Facility- and technology-related expenses

    50,903

    44,090

    6,813

    15
    %

    Other

    43,093

    23,031

    20,062

    87
    %

    Roche collaboration reimbursement

    (1,427
    )

    (871
    )

    (556
    )

    64
    %

    Total selling, general and administrative expenses
     
    $
    557,872

    $
    481,871

    $
    76,001

    16
    %

-77-

Selling, general and administrative expenses for 2024 increased by $76.0 million, or 16%, compared with 2023. The increase was primarily driven by the following:

•$25.2 million increase in professional service expenses primarily related to ongoing litigation matters, our continuing expansion efforts and continuing efforts to commercialize ELEVIDYS;

•$14.2 million increase in compensation and other personnel expenses primarily due to changes in headcount; 

•$10.3 million increase in stock-based compensation expense primarily related to the achievement of performance conditions related to certain PSUs during the year ended December 31, 2024 and changes in headcount; 

•$6.8 million increase in facility- and technology-related expenses primarily due to our continuing expansion efforts; and

•$20.1 million increase in other expenses primarily due to the timing of charitable contribution activity.

Amortization of in-licensed rights

Amortization of in-licensed rights relates to the agreements we entered into with UWA, Nationwide, BioMarin and Parent Project Muscular Dystrophy in April 2013, December 2016, July 2017 and May 2018, respectively. Each in-licensed