RTTNews | Aug 5, 2021 09:55AM EDT

09:54 Thursday, August 5, 2021 (RTTNews.com) - Shares of Sarepta Therapeutics Inc. (SRPT) are soaring over 12% Thursday morning, after the company raised its full-year revenue guidance, while reporting Q2 results. The stock, which has been trading between $65.30 and $181.83 in the past one year, is currently trading at $76.03, up $8.53 or 12.64%. Trading volume is rising over 629K versus an average volume of 1.05 million shares.

Updated FY Guidance

The company now sees FY revenue to range between $565 million and $575 million, representing at the midpoint, a growth of more than 25% over last year. Previously, the company expected revenue of $537 million - $547 million for the year 2021.

Twenty Wall Street analysts have a consensus revenue estimate of $626.58 million for the year 2021.

Q2 Results

The company reported Q2 GAAP net loss of $81.4 million or $1.02 per share compared to a loss of $150.8 million or $1.93 per share.

On a non-GAAP basis, net loss amounted to $121.2 million or $1.52 per share, versus a loss of $117.9 million or $1.51 per share incurred a year ago.

Net product revenues for the quarter were $141.8 million, 27% higher than the previous year's revenue of $111.3 million.

Analysts polled by Thomson Reuters expected a loss of $1.29 per share and revenue of $162.64 million for the quarter. Analysts' estimate typically exclude certain special items.

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