Sarepta Therapeutics reported preliminary Q4 product revenue that missed analyst expectations for its AAV gene therapy Elevidys, with Q4 Elevidys revenue down 17% from the prior quarter. CEO Douglas S. Ingram addressed the miss publicly at JPM week as investors reacted, sending shares lower before a modest bounce. The company reported $369.6 million in total Q4 net product revenue and roughly $953.8 million in year‑end cash and investments (preliminary). Management will face scrutiny over growth strategy for Elevidys following last year’s patient deaths in the Duchenne muscular dystrophy (DMD) community and will need to reconcile safety concerns with commercial execution and manufacturing scale.