Sarepta Therapeutics’ dismal quarter marred by drug failures and a long list of excuses

Sarepta Therapeutics delivered a disastrous third-quarter earnings performance. A long-delayed confirmatory clinical trial of two of the company’s drugs for Duchenne muscular dystrophy failed to show benefit for patients. Sales of its gene therapy were lower, and the outlook for next quarter was downgraded. The company lost money again.

Investors looking for accountability from Sarepta’s executives were left wanting. What they got on Monday night’s conference call was a long list of excuses. 

Sarepta CEO Doug Ingram excels at deflecting blame for his company’s setbacks. The longer he and his lieutenants spoke to analysts and investors on Monday night — excuses piling up — the deeper Sarepta’s stock price fell. 

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