Sarepta Therapeutics: Mgmt meeting takeaways: Increasing focus on siRNA programs into 2H26 updates

研报英文原文证据摘录

Sarepta Therapeutics: Mgmt meeting takeaways: Increasing focus on siRNA programs into 2H26 updates

Equity Research

U.S. Small & Mid Cap Biotechnology

18 June 2026

Sarepta Therapeutics

Mgmt meeting takeaways:

Increasing focus on siRNA

SRPT EQUAL WEIGHTprograms into 2H26 updates

U.S. Small & Mid Cap POSITIVE

Knockdown is the key focus for DM1 and FSHD siRNA program Biotechnology Price Target USD 20.00

data later this year, where we think deeper knockdown could Price (17-Jun-26) USD 16.96

bode well for efficacy. Questions remain on Elevidys Potential Upside/Downside +17.9% Source: Bloomberg, Barclays Research

stabilization, which we think will take some time to play out.

We hosted a Boston bus tour with investors and met with SRPT mgmt (Ian Estepan, President & Eliana Merle, CFA

COO; James Richardson, EVP & CMO). For SRPT we think the siRNA pipeline is coming more into +1 212 526 9445

focus, with DM1 and FSHD MAD data expected 2H this year. Mgmt noted its confidence on the eliana.merle@barclays.com

BCI, USprograms is going up. We think the knockdown level will be the key focus for the data, where mgmt

noted better than 50% knockdown they think would put them ahead of competitors. Mgmt Jasmine Fels, PhD

reiterated confidence on the revenue guidance & noted seeing stabilization of start forms. We think +1 212 526 0865

Elevidys remains a show-me story for investors, but mgmt sounds encouraged about seeing signs jasmine.fels@barclays.com

BCI, USof stabilization. We think education efforts for Elevidys could eventually pay off, but this may take

some time to inflect (mgmt notes ~6m from start form to infusion). We note questions on Tejas Wein

competition coming in DMD - RGNX and SLDB gene therapies, for the PMOs DYN potentially +1 212 526 3806