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Jun 30, 2020

Beam Therapeutics Q2 2020 Earnings Report

Announced first development candidates for sickle cell disease and reported second quarter 2020 results.

Key Takeaways

Beam Therapeutics reported pipeline updates, recent business highlights and second quarter 2020 financial results, highlighted by the naming of BEAM-101 and BEAM-102 as development candidates for sickle cell disease.

Named BEAM-101 and BEAM-102 as development candidates targeting distinct approaches to treating sickle cell disease.

Signed lease agreement to build in-house manufacturing facility dedicated to producing base editing therapeutics.

Continued to advance and expand the therapeutic application of novel base editing technologies through a broad partnering strategy.

Team remains on track to initiate IND-enabling studies in 2020 and file at least one Investigational New Drug application in 2021.

Total Revenue
$6K
Previous year: $6K
+0.0%
EPS
-$0.69
Previous year: -$0.508
+35.7%
R&D Expenses
$19.4M
G&A Expenses
$6.9M
Gross Profit
-$19.3M
Previous year: -$11.2M
+72.7%
Cash and Equivalents
$228M
Free Cash Flow
-$25.2M
Total Assets
$300M

Beam Therapeutics

Beam Therapeutics

Forward Guidance

This press release contains forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, including statements about the expected timing of filing INDs applications, the therapeutic applications of our technology and our ability to develop base editors as a new class of precision genetic medicines for patients.