Loading...
•
Sep 30, 2020
Editas Q3 2020 Earnings Report
Editas Medicine reported a net income for Q3 2020 and made progress in its clinical programs.
Key Takeaways
Editas Medicine reported a net income of $7.8 million for the third quarter of 2020, a significant improvement compared to the net loss of $32.9 million for the same period in 2019. The company completed dosing the first cohort with EDIT-101 in the BRILLIANCE trial and remains on track to file the IND for EDIT-301 for sickle cell disease by the end of 2020.
Completed dosing of the first cohort in the BRILLIANCE trial for EDIT-101.
Regained full operating control of ocular programs through a new agreement with AbbVie.
Advanced EDIT-301 for sickle cell disease with IND filing on track for the end of 2020.
Made progress in the development of EDIT-201 for solid tumors, with preclinical data to be presented at upcoming conferences.
Forward Guidance
Editas Medicine is focused on advancing its pipeline of CRISPR-based medicines, with key milestones including the IND filing for EDIT-301 and continued development of EDIT-101 and EDIT-201.
Positive Outlook
- Advancing EDIT-101 clinical trials.
- Filing IND for EDIT-301 by the end of 2020.
- Presenting preclinical data for EDIT-201 at upcoming conferences.
- Continuing to develop CRISPR-based medicines.
- Maintaining a strong cash position to fund operations into 2023.
Challenges Ahead
- Uncertainties inherent in clinical trials.
- Potential delays in regulatory approvals.
- Dependence on third parties for manufacturing and clinical trial support.
- Risks related to intellectual property and patent interference.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...