Financial PerformanceRevenue of ~$611M, above Citi/FactSet’s ~$530M, driven by a Roche milestone on Japanese Elevidys approval, gains on strategic investments, and an income tax benefit.
Market PositionWith ELEVIDYS back in the ambulatory setting, no issues are expected meeting the <4x total net leverage ratio required to draw upon the $600M revolver.
Product DemandThere is still enthusiasm amongst ambulatory patients to be dosed with Elevidys, with observed improvement and long-term stabilization of function.