Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Market Information
Our common stock is quoted on the NASDAQ Global Select Market under the same symbol “SRPT”.
Holders
As of February 19, 2021, we had 181 stockholders of record of our common stock.
Dividends
We did not declare or pay cash dividends on our common stock in 2020, 2019 or 2018. We currently expect to retain future earnings, if any, to finance the operation and expansion of our business, and we do not anticipate paying any cash dividends in the foreseeable future. Any future determination related to our dividend policy will be made at the discretion of our board of directors.
Performance Graph
The following graph compares the performance of our Common Stock for the periods indicated with the performance of the NASDAQ Composite Index, NASDAQ Biotechnology Index and the NYSE ARCA Biotechnology Index. This graph assumes an investment of $100 after the market closed December 31, 2015 in each of our common stock, the NASDAQ Composite Index, NASDAQ Biotechnology Index and the NYSE ARCA Biotechnology Index, and assumes reinvestment of dividends, if any. The stock price performance shown on the graph below is not necessarily indicative of future stock price performance. This graph is not “soliciting material,” is not deemed “filed” with the SEC and is not to be incorporated by reference into any of our filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, whether made before or after the date hereof and irrespective of any general incorporation language in any such filing.
Recent Sales of Unregistered Securities.
None.
Purchases of Equity Securities by the Issuer and Affiliated Purchasers.
None.
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Item 6. Select ed Financial Data.
The following selected financial data are derived from our consolidated financial statements and should be read in conjunction with, and is qualified in its entirety by, Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations, and Item 8, Financial Statements and Supplementary Data.
For the Year Ended December 31,
2020
2019
2018
2017
2016
(in thousands, except per share amounts)
Operations data:
Product revenues, net
$
455,865
$
380,833
$
301,034
$
154,584
$
5,421
Collaboration revenue
84,234
—
—
—
—
Cost of sales (excluding amortization
of in licensed rights)
63,382
56,586
34,193
7,353
101
Research and development
722,343
560,909
401,843
166,707
188,272
Selling, general and administrative
317,875
284,812
207,761
122,682
83,749
Settlement and license charges
—
10,000
—
28,427
—
Acquired in-process research and
development
—
173,240
—
—
—
Amortization of in-licensed rights
662
849
865
1,053
29
Operating loss
(564,163
)
(705,563
)
(343,628
)
(171,638
)
(266,730
)
Gain from sale of Priority Review
Voucher
108,069
—
—
125,000
—
Loss on contingent consideration
(45,000
)
—
—
—
—
Other expense, net
(51,971
)
(8,317
)
(18,982
)
(1,990
)
(535
)
Loss before income tax expense (benefit)
(553,065
)
(713,880
)
(362,610
)
(48,628
)
(267,265
)
Income tax expense (benefit)
1,063
1,195
(692
)
2,060
—
Net loss
$
(554,128
)
$
(715,075
)
$
(361,918
)
$
(50,688
)
$
(267,265
)
Net loss per share—basic and diluted
$
(7.11
)
$
(9.71
)
$
(5.46
)
$
(0.86
)
$
(5.49
)
Balance sheet data:
Cash and cash equivalents
$
1,502,648
$
835,080
$
370,829
$
599,691
$
122,420
Short-term investments
435,923
289,668
803,083
489,349
195,425
Working capital
2,069,170
1,204,146
1,252,493
1,140,312
298,054
Total assets
2,984,718
1,822,822
1,642,075
1,307,964
424,104
Long-term debt
992,493
681,900
420,554
431,051
16,150
Stockholders’ equity
761,759
818,187
1,032,276
789,217
336,691
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