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Jun 30, 2022
Beam Therapeutics Q2 2022 Earnings Report
Pipeline and business highlights were announced and financial results were reported.
Key Takeaways
Beam Therapeutics reported its Q2 2022 financial results, including cash, cash equivalents and marketable securities of $1.2 billion. The company is on track for patient enrollment in the BEACON Phase 1/2 trial of BEAM-101 in the second half of 2022. The IND for BEAM-201 was submitted to the FDA but is currently on clinical hold.
Patient enrollment into BEACON Phase 1/2 Trial of BEAM-101 on track for second half of 2022.
BEAM-201 IND Submitted to FDA; Currently on Clinical Hold.
BEAM-102 IND Submission and BEAM-301 IND-enabling Studies On-track for Second Half of 2022.
Ended Second Quarter 2022 with $1.2 Billion in Cash, Cash Equivalents and Marketable Securities.
Forward Guidance
Beam Therapeutics anticipates nominating additional development candidates, initiating IND-enabling studies, submitting IND applications, and initiating clinical trials. The company expects to expand its portfolio with clinical and preclinical milestones in the coming quarters.
Positive Outlook
- On track to begin patient enrollment in BEACON trial in the second half of 2022.
- Plans to submit IND application for BEAM-102 in the second half of 2022.
- BEAM-301 is on track for initiation of IND-enabling studies in the second half of 2022.
- Anticipates the nomination of a second liver-targeted development candidate in 2022.
- Developed a potentially non-genotoxic approach that combines antibody-based conditioning with multiplex gene-edited hematopoietic stem cells.
Challenges Ahead
- Received notification from the FDA of a clinical hold on the IND for BEAM-201.
- Does not expect to nominate a second CAR-T development candidate in 2022.
- Uncertainty in the outcome of interactions with the FDA regarding the clinical hold on the BEAM-201 IND.
Historical Earnings Impact
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