Sarepta Therapeutics (SRPT) stock surged 5.13% in pre-market trading on Friday, following the company's announcement of its annual scholarship program for individuals living with Duchenne muscular dystrophy and their siblings, as well as the release of its impressive full-year 2024 earnings results.
The biotech company, known for its precision genetic medicine for rare diseases, unveiled the 8th annual Route 79 Duchenne Scholarship Program for the 2025-2026 academic year. The program offers academic scholarships of up to $5,000 to as many as 20 individuals with Duchenne and five siblings. This initiative highlights Sarepta's commitment to supporting the Duchenne community and their educational aspirations.
Additionally, Sarepta reported strong financial performance for the full year 2024. The company's revenue surged 53% year-over-year to $1.90 billion, exceeding analyst expectations. While earnings per share fell short of estimates, Sarepta achieved net income of $235.2 million, marking a significant improvement from the previous year's net loss of $536 million. The company's robust revenue growth and transition to profitability contributed to the stock's upward momentum.
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