Sarepta Therapeutics reported preliminary Q4 2025 product sales that fell short of analyst expectations, driven by weaker-than-forecast revenue for its AAV gene therapy Elevidys and a decline in quarterly Elevidys sales. The company disclosed $369.6M in total Q4 product revenue with Elevidys contributing $110.4M, down from $132M in Q3. Investors reacted with an immediate selloff, sending shares down roughly 11% after the announcement. The report, reviewed in coverage from StockWatch, cited lingering safety concerns following three DMD patient deaths last year and analysts from William Blair and Leerink Partners who flagged the shortfall versus consensus. Sarepta still posted stronger-than-expected sales for its PMO exon‑skipping therapies and finished the fiscal year with approximately $953.8M in cash and equivalents. This development spotlights commercial and safety pressures facing approved AAV gene therapies and the balance companies must strike between ramping patient access and responding to post‑market safety scrutiny. Market participants and payers will likely watch upcoming trial updates and regulatory communications for signals about uptake and long‑term viability of AAV products.