Editas Medicine Q2 net loss narrows and beats estimates
EDIT•Outlook
- Editas expects to submit a CTN in Australia for EDIT-401 this month
- Company plans to provide a data update on EDIT-401 in Q1 2027
- Editas expects existing cash to fund operations into the second half of 2028
Overview
- US gene editing firm's Q2 net loss narrowed and beat analyst expectations
- Collaboration and other R&D revenue more than tripled yr/yr to $11.9 mln
- Company completed $125 mln equity financing, cash runway into H2 2028
Result drivers
- Deferred revenue recognition - Revenue growth was mainly due to recognition of deferred revenue after expiration of certain rights under BMS collaboration
- Higher R&D spending - Research and development expenses rose due to increased external costs for ongoing EDIT-401 preclinical work
- Lower G&A costs - General and administrative expenses fell, reflecting workforce reductions and discontinuation of a prior clinical program
- Restructuring benefit - Restructuring and impairment charges shifted to a benefit due to favorable adjustments to prior estimated contract costs
