Sarepta Therapeutics is divesting its stake in Arrowhead Pharmaceuticals in two tranches to manage milestone payments and extend its cash runway. The sale will help cover a milestone payment and provide additional financial flexibility ahead of a debt maturity in 2027. This move follows a trend of biotech companies optimizing capital structures amid market pressures, with Sarepta also revealing new safety data confirming a positive risk/benefit profile for its Duchenne muscular dystrophy gene therapy Elevidys in ambulatory patients.