Beam Therapeutics Q2 2021 Earnings Report
Key Takeaways
Beam Therapeutics reported progress in advancing its base editing programs, remaining on track to submit the first investigational new drug (IND) for BEAM-101 in the second half of 2021. They initiated IND-enabling studies for BEAM-201 and expanded their collaboration network with Apellis. The company's cash, cash equivalents, and marketable securities were $615.3 million as of June 30, 2021.
On track to submit first IND for BEAM-101 in the second half of 2021.
Initiated IND-enabling studies for BEAM-201.
Entered into an exclusive research collaboration with Apellis to apply base editing to complement-driven diseases.
Broke ground on internal manufacturing facility to support future product development.
Beam Therapeutics
Beam Therapeutics
Beam Therapeutics Revenue by Segment
Forward Guidance
The company is planning to file an IND for BEAM-101 and initiate IND-enabling studies for BEAM-102 in the second half of 2021. Beam is also on track to nominate its first Development Candidate for in vivo base editing of the liver using LNP delivery by the end of 2021.
Positive Outlook
- Filing an IND for BEAM-101 in the second half of 2021
- Initiating IND-enabling studies for BEAM-102 in the second half of 2021
- Nominating first Development Candidate for in vivo base editing of the liver using LNP delivery by the end of 2021
- Manufacturing facility to be operational in 2023
- Presenting preclinical data at Cold Spring Harbor Laboratory’s Genome Engineering: CRISPR Frontiers Conference
Challenges Ahead
- Ability to develop, obtain regulatory approval for, and commercialize product candidates may take longer or cost more than planned
- May not be able to raise additional funding
- May not be able to obtain, maintain and enforce patent and other intellectual property protection for product candidates
- Preclinical testing of product candidates and preliminary or interim data from preclinical and clinical trials may not be predictive of the results or success of ongoing or later clinical trials
- Enrollment of clinical trials may take longer than expected