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Mar 31, 2022
Editas Q1 2022 Earnings Report
Editas Medicine reported first quarter 2022 results and provided business updates.
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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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