Sarepta reported preliminary Q4 2025 results showing Elevidys revenue fell to $110.4 million, down 17% from the prior quarter, and below analyst expectations. The disclosure triggered an investor selloff that cut the company’s share price by roughly 11% during the week. The company still posted $369.6 million in Q4 total net product revenue and approximately $1.86 billion for the full year. The results highlight persistent commercial and safety questions for AAV-based gene therapies following recent DMD patient deaths and weigh on investor sentiment in rare-disease gene therapy markets. The report, covered in StockWatch, notes Sarepta’s cash position near $953.8 million at year-end 2025 — down from prior-year levels but buttressed by strong PMO therapy sales. Market participants and analysts cited in the piece stress that Elevidys uptake, safety perception and reimbursement dynamics will determine near-term valuation and program momentum.