Beam Therapeutics Q2 2022 Earnings Report
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.
Beam Therapeutics
Beam Therapeutics
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.
- The FDA indicated it will provide an official clinical hold letter to Beam within 30 days.
- Clinical hold on BEAM-201 IND