Sarepta Falls Despite Earnings Beat

Sarepta Therapeutics Inc SRPT is having a rough Tuesday, despite posting a smaller loss than analysts predicted and topping sales estimates.

Shares were down nearly 4 percent after hours, after shedding 5 percent during the regular trading session.

• Q4 Adj. EPS of $(0.71), beating by $0.62
• Sales came in at $5.4 million, beating by $680,000

“2016 was a transformative year, with the FDA accelerated approval of EXONDYS 51," CEO Edward Kaye said. "In 2017, we are focused on our strategy to build shareholder value by executing a successful launch of EXONDYS 51 in the US, reaching more patients through global expansion, and rapidly advancing our pipeline through internal and external development efforts. We are pleased with the interest from the patient and physician community for EXONDYS 51, and with the progress we have made in discussions with payers. We believe this positions us well for potential growth and towards our goal at Sarepta Therapeutics to help all boys with Duchenne muscular dystrophy.”

The stock traded recently at $30.60, down 1.6 percent in the after-hours session.