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Jun 30, 2023
Beam Therapeutics Q2 2023 Earnings Report
Second quarter 2023 financial results were reported and pipeline progress was updated.
Key Takeaways
Beam Therapeutics reported progress in its clinical trials for BEAM-101 and BEAM-201, and accelerated the development of BEAM-302, expecting a regulatory filing in Q1 2024. The company is well-capitalized with $1.1 billion in cash, cash equivalents and marketable securities. Net loss was $82.8 million, or $1.08 per share, compared to $72.0 million, or $1.02 per share for the second quarter of 2022.
BEACON trial of BEAM-101 in Sickle Cell Disease progressing with consented patients projected to fill sentinel cohort and to initiate expansion cohort.
First patient consented in Phase 1/2 Trial of BEAM-201 in T-ALL/T-LL and expected to be dosed in The Third Quarter of 2023.
Company to accelerate development of BEAM-302 for Treatment of AATD; Program Now Expected to be First In Vivo Liver Regulatory Filing in First Quarter of 2024.
Well-Capitalized with $1.1B in Cash, Cash Equivalents and Marketable Securities at the End of the Second Quarter of 2023.
Forward Guidance
Beam expects that its cash, cash equivalents and marketable securities as of June 30, 2023, will enable the company to fund its anticipated operating expenses and capital expenditure requirements at least into 2025. This expectation includes funding directed toward reaching each of the key anticipated milestones for BEAM-101, BEAM-201, BEAM-301 and BEAM-302 described above, as well as continued investments in platform advancements and manufacturing capabilities.
Historical Earnings Impact
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