Loading...
Entrada Therapeutics Q1 2025 Earnings Report
Entrada Therapeutics reported a decrease in collaboration revenue and a net loss for Q1 2025, driven by a significant catch-up adjustment in the prior year, while continuing to advance its clinical programs.
Key Takeaways
Entrada Therapeutics reported a net loss of $17.349 million for the three months ended March 31, 2025, a significant decrease from a net income of $23.496 million in the same period last year. This was primarily due to a decrease in collaboration revenue, which was $20.558 million in Q1 2025 compared to $59.120 million in Q1 2024, largely influenced by a $38.7 million cumulative catch-up adjustment in the prior year. Operating expenses increased to $42.348 million from $38.007 million.
Collaboration revenue significantly decreased to $20.558 million in Q1 2025 from $59.120 million in Q1 2024, primarily due to a large catch-up adjustment in the prior year.
The company reported a net loss of $17.349 million in Q1 2025, a notable shift from a net income of $23.496 million in Q1 2024.
Operating expenses increased by $4.341 million, driven by higher research and development costs and general and administrative expenses.
Cash, cash equivalents, and marketable securities totaled $382.5 million as of March 31, 2025, which is expected to fund operations into Q2 2027.
Entrada Therapeutics
Entrada Therapeutics
Entrada Therapeutics Revenue by Segment
Revenue by Segment
Collaboration Revenue
CapyFin.com Forward Guidance
Entrada Therapeutics expects to incur significant expenses and operating losses for the foreseeable future as it advances its preclinical and clinical development programs. The company anticipates increased costs associated with operating as a public company and expanding its portfolio. It believes its current cash, cash equivalents, and marketable securities will be sufficient to fund operations into Q2 2027, but additional financing may be required thereafter.
Positive Outlook
- Focusing resources on an expanding portfolio of DMD clinical candidates (ENTR-601-44, -45, -50, and -51) and key preclinical programs.
- Enhanced hiring efforts to support planned global clinical trial execution in DMD.
- Prioritizing acceleration of DMD clinical candidates and maturing platform investments.
- Expects to initiate study enrollment for ELEVATE-44-102 (Phase 1b MAD clinical study of ENTR-601-44) in adult DMD patients in H1 2026.
- On track to initiate ELEVATE-45-201 (Phase 1/2 MAD clinical study of ENTR-601-45) in Q3 2025 and a clinical study of ENTR-601-50 in Q4 2025.
Challenges Ahead
- Expects to incur significant operating losses and negative operating cash flows for the foreseeable future.
- Will require substantial additional funding to support continuing operations and growth strategy beyond Q2 2027.
- Inability to raise additional funds on acceptable terms or at all could force delays, reductions, or termination of development programs.
- New strategic plan and associated workforce reduction (approx. 20%) may not result in anticipated cost savings and could disrupt business.
- Potential for total costs and expenses related to the workforce reduction to be greater than expected.