Company: SRPT
Filing Date: 2025-07-16
Form Type: 8-K
Source: 0000950170-25-096257
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Company: Sarepta Therapeutics, Inc.
Filing Date: 2025-07-16
Form: 8-K
Item: Item 2.02
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Item 2.02 Results of Operations and Financial Condition.

On July 16, 2025, Sarepta Therapeutics, Inc. (the “ Company”) issued a press release announcing certain of the Company’s preliminary financial results for the quarter ended June 30, 2025. A copy of this press release is furnished as Exhibit 99.1 and is incorporated herein by reference.

The information in this report, including Exhibit 99.1 attached hereto, is furnished pursuant to Item 2.02 and shall not be deemed “filed” for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “ Exchange Act”), or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933, as amended, if such subsequent filing specifically references the information furnished pursuant to Item 2.02 of this report.

Item 2.05. Costs Associated with Exit or Disposal Activities.

Following an evaluation of its annual combined research and development and selling, general and administrative spend, the Company is undertaking a restructuring that includes a revised cost structure and program portfolio. In connection with those plans, on July 14, 2025, the Board of Directors of the Company (the “ Board”) approved a reduction in force, representing approximately 36% of the Company’s workforce. As a result of this reduction in force, the Company estimates that it will record a one-time charge in the third quarter of 2025 related to employee termination benefits, including severance, between approximately $32 million and $37 million, all of which is anticipated to result in cash expenditures. The Company expects the reduction in force to be substantially completed by the end of the third quarter of 2025.

The charge that the Company expects to incur in connection with the restructuring and reduction in force is subject to a number of assumptions, and actual results may differ. The Company may also incur other charges not currently contemplated due to events that may occur as a result of, or associated with, the reduction in force.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.