Editas Q1 2022 Earnings Report
Key Takeaways
Editas Medicine announced the appointment of Gilmore O'Neill as CEO, effective June 1, 2022, and reported a net loss of $50.5 million, or $0.74 per share, for the first quarter of 2022. The company is advancing its pipeline programs, including EDIT-101 for LCA10, EDIT-301 for SCD and TDT, and EDIT-202 for solid tumors.
Gilmore O’Neill was appointed as CEO effective June 1, 2022; James C. Mullen to serve as Executive Chairman.
First pediatric patient was dosed in Phase 1/2 BRILLIANCE trial of EDIT-101 for LCA10; clinical data update expected in 2H 2022.
The company is on track to dose first SCD patient in 1H 2022 and first TDT patient by year-end with EDIT-301; initial SCD data expected by year-end.
Preclinical data demonstrated that edited iNK cells increased persistence, enhanced anti-tumor activity, and extended survival, supporting continued development as a novel therapeutic approach for solid tumors.
Editas
Editas
Forward Guidance
Editas Medicine is focused on advancing its pipeline programs and expects to achieve several milestones in 2022.
Positive Outlook
- Completing dosing of the pediatric mid-dose cohort in the BRILLIANCE trial in the first half of 2022.
- Initiating dosing of the pediatric high-dose cohort in 2022.
- Establishing registrational trial criteria by year-end 2022.
- Dosing the first patient in the RUBY trial in the first half of 2022.
- Dosing the first TDT patient with EDIT-301 in 2022.
Challenges Ahead
- Uncertainties inherent in the initiation and completion of pre-clinical studies and clinical trials, including the BRILLIANCE and RUBY trials.
- Uncertainties inherent in clinical development of the Company’s product candidates.
- Availability and timing of results from pre-clinical studies and clinical trials.
- Whether interim results from a clinical trial will be predictive of the final results of the trial or the results of future trials.
- Uncertainties and unpredictable outcomes inherent in adversarial proceedings and litigation regarding intellectual property rights, including the appeal of the USPTO decision in favor of Broad.