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Jun 30, 2024
Editas Q2 2024 Earnings Report
Reported a net loss with ongoing progress in clinical trials and preclinical development.
Key Takeaways
Editas Medicine reported a net loss of $67.6 million for the second quarter of 2024. The company is focused on advancing its reni-cel program and in vivo medicines, with key milestones expected by year-end. They have a strong financial position with a cash runway into 2026.
On track to present additional clinical data from the RUBY trial and the EdiTHAL trial by year-end.
Completed enrollment of the adolescent cohort of the Phase 1/2/3 RUBY trial for SCD.
Continue to dose adult patients in the RUBY trial and completed enrollment of the adult cohort.
On-track to establish in vivo preclinical proof-of-concept for an undisclosed indication by year-end.
Revenue by Segment
Forward Guidance
Editas Medicine anticipates presenting additional clinical data from the RUBY and EdiTHAL trials by year-end 2024 and expects existing cash, cash equivalents, and marketable securities, together with near-term annual license fees and contingent upfront payment, to fund operating expenses and capital expenditures into 2026.
Positive Outlook
- Presentation of substantive clinical data set of sickle cell patients with considerable clinical follow-up in the RUBY trial by year-end 2024.
- Completion of enrollment of the adolescent cohort of the Phase 1/2/3 RUBY trial for SCD.
- Manufacturing drug product for the initial adolescent cohort patients.
- Continued dosing of adult patients in the RUBY trial, with completed enrollment of the adult cohort.
- Presentation of additional clinical data from the EdiTHAL trial by year-end 2024.
Challenges Ahead
- Uncertainties inherent in the initiation and completion of pre-clinical studies and clinical trials.
- 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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