Sarepta Therapeutics Inc. reported its first-quarter 2025 financial results showing an adjusted loss per share of $3.42 and revenue of $744.9 million. The revenue was driven by $375 million from its drug ELEVIDYS. However, the company faced significant losses due to increased research and development expenses linked to new siRNA programs and a deal with Arrowhead Pharmaceuticals. Following the earnings release, Sarepta's stock experienced a sharp decline, falling as much as 36% including after-hours trading. The stock's price target was also lowered to $40 by H.C. Wainwright. Market sentiment was further dampened by a cut in the company's sales guidance and concerns related to the FDA's appointment of Dr. Vishva Prasad as the new director of the Center for Biologics Evaluation and Research (CBER), which some investors viewed negatively. Other biotech companies such as AnaptysBio, Arcus Biosciences, BioAtla, and BeiGene also announced their first-quarter 2025 financial results and business updates around the same period, but the focus remained on Sarepta due to its volatile stock performance and guidance revision.