Beam Therapeutics (BEAM) - The company is developing a pipeline using base editing technology, which modifies single DNA or RNA bases without cutting the DNA strand [1] - Beam Therapeutics ended Q2 with $1 billion in cash, providing an operating runway into 2027 [1] - The company recently received new drug clearance for its first in-vivo regulatory filing, enabling genetic modifications via nanoparticles injected into the body [2] - Initial clinical data for BEAM-302 in Alpha-1 Antitrypsin Deficiency (AATD) is expected in 2025, with the first patient dosed in phase 1 and 2 trials [3] - New players in the biotech space could license Beam's base-editing technology, potentially benefiting the company and its shares [3] Bloom Energy (BE) - Bloom Energy signed an agreement with American Electric Power (AEP) in November to provide power solutions to data centers [4] - The stock has pulled back to its 50% year-to-date level, aligning with its $5 billion valuation and technical support levels [4] - A potential upward movement in the stock could occur in 2025, supported by technical indicators [4] - Bloom Energy is considered a contrarian target with relative strength leadership and significant skepticism among investors [5] - Short interest in BE has reached all-time highs, increasing by 16% in the last 30 days and 48% in 2024, with 23% of the equity's total available float sold short, indicating potential for a short squeeze [5]

CAMBRIDGE, Mass., Dec. 17, 2024 (GLOBE NEWSWIRE) -- Beam Therapeutics Inc. (NASDAQ:BEAM), a biotechnology company developing precision genetic medicines through base editing, today announced that John Evans, chief executive officer of Beam, will present at the 43rd Annual J.P. Morgan Healthcare Conference on Monday, January 13, 2025, at 1:30 p.m. PT in San Francisco. A live webcast will be available in the investor section of the company's website at www.beamtx.com and will be archived for 60 days following ...

CAMBRIDGE, Mass., Nov. 12, 2024 (GLOBE NEWSWIRE) -- Beam Therapeutics Inc. (Nasdaq: BEAM), a biotechnology company developing precision genetic medicines through base editing, today announced that John Evans, chief executive officer of Beam, plans to participate in a fireside chat during the 2024 Jefferies London Healthcare Conference on Tuesday, November 19, 2024, at 10:00 a.m. GMT in London. A live webcast will be available in the investor section of the company's website at www.beamtx.com and will be arc ...

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Beam Therapeutics Inc. (BEAM) incurred a loss of $1.17 per share in the third quarter of 2024, wider than the Zacks Consensus Estimate of a loss of $1.13. The company had recorded a loss of $1.22 per share in the year-ago quarter.Total revenues, comprising license and collaboration revenues, came in at $14.3 million in the third quarter compared with $17.2 million reported in the year-ago period. The top line missed the Zacks Consensus Estimate of $15 million.Stay up-to-date with all quarterly releases: See ...

Beam Therapeutics Inc (NASDAQ:BEAM) Q3 2024 Earnings Conference Call November 5, 2024 8:30 AM ET Company Participants Holly Manning - Vice President of Investor Relations & External Communications John Evans - Chief Executive Officer Giuseppe Ciaramella - President Amy Simon - Chief Medical Officer Conference Call Participants Gena Wang - Barclays Dae Gon Ha - Stifel Eric Joseph - JPMorgan Kostas Biliouris - BMO Capital Markets Samantha Semenkow - Citi Sami Corwin - William Blair Luca Issi - RBC Capital Mic ...

Clinical Trials and Programs - BEAM-101 Phase 1/2 clinical trial for sickle cell disease has enrolled 35 patients, with 8 dosed and 7 expected to present additional data at ASH[81][82] - BEAM-101 demonstrated rapid and robust HbF induction (>60%) and HbS reduction (≤36%) in non-transfused blood for patients with at least one month of follow-up[81] - ESCAPE program aims to reduce toxicity in HSCT with BEAM-103 and BEAM-104, with Phase 1-enabling preclinical studies anticipated by end of 2024[83] - Preclinical data for ESCAPE in non-human primates showed robust long-term engraftment and high HbF expression, with additional data expected at ASH[83] - BEAM-302 Phase 1/2 trial for AATD has completed dosing of the first cohort, with initial clinical data expected in 2025[86] - BEAM-201 Phase 1/2 trial for T-cell malignancies showed complete responses in 2 of 3 patients at CAR-T cell doses >200 million, with additional data expected at ASH[90] Collaborations and Partnerships - The company entered into a four-year research collaboration with Pfizer in December 2021, focusing on in vivo base editing programs for three targets related to rare genetic diseases of the liver, muscle, and central nervous system[93] - Under the Pfizer collaboration, the company has the right to opt into a global co-development and co-commercialization agreement for one program, sharing net profits and costs with Pfizer in a 35%/65% ratio[93] - In October 2023, the company received a $200.0 million payment from Eli Lilly and is eligible for up to $350.0 million in future development-stage payments under the Lilly Agreement[95] - The company sold 2,004,811 shares of common stock to Eli Lilly at $24.94 per share, totaling approximately $50 million, representing a 15% premium to the 30-day volume-weighted average price[96] Financial Performance and Expenses - The company's net losses for the nine months ended September 30, 2024, were $286.4 million, compared to $275.3 million for the same period in 2023[102] - As of September 30, 2024, the company had an accumulated deficit of $1.5 billion[102] - The company recognized $33.5 million in license and collaboration revenue for the nine months ended September 30, 2024, compared to $61.5 million for the same period in 2023[103] - The company expects research and development expenses to increase substantially as it advances programs through preclinical and clinical development[106] - The company anticipates increased general and administrative expenses to support expanded research and development activities and public company compliance costs[107] - License and collaboration revenue decreased by $2.9 million to $14.3 million in Q3 2024 compared to $17.2 million in Q3 2023, driven by lower research activities[109] - Research and development expenses decreased by $5.8 million to $94.3 million in Q3 2024, primarily due to a $7.0 million reduction in external R&D expenses and a $2.3 million decrease in employee-related costs[110] - General and administrative expenses increased by $1.1 million to $26.5 million in Q3 2024, mainly due to a $1.7 million rise in employee-related costs and a $0.6 million increase in stock-based compensation[112] - Net loss for Q3 2024 was $96.7 million, slightly higher than the $96.1 million loss in Q3 2023[109] - License and collaboration revenue for the nine months ended September 30, 2024, was $33.5 million, down $28.1 million from $61.5 million in the same period in 2023[113] - Research and development expenses for the nine months ended September 30, 2024, decreased by $31.2 million to $266.1 million, driven by a $35.8 million reduction in external R&D expenses[114] - General and administrative expenses for the nine months ended September 30, 2024, increased by $9.3 million to $82.9 million, primarily due to a $4.6 million rise in stock-based compensation and a $3.5 million increase in personnel-related expenses[115] - Net loss for the nine months ended September 30, 2024, was $286.4 million, compared to $275.3 million in the same period in 2023[113] - Interest and other income for the nine months ended September 30, 2024, increased by $3.6 million to $38.2 million, driven by higher market rates[116] - The fair value of non-controlling equity investments resulted in a $13.0 million expense for the nine months ended September 30, 2024, compared to a $17.9 million expense in the same period in 2023[116] Revenue and Funding - The company's revenue to date has been primarily derived from license and collaboration agreements, with no revenue from product sales expected in the near future[103] - Company has not generated any revenue from product sales since inception in January 2017 and expects significant operating losses for the foreseeable future[117] - Company sold 10,860,992 shares of common stock under amended Sales Agreement at an average price of $51.93 per share for aggregate gross proceeds of $564.0 million[117] - Company received $200.0 million upfront payment from Lilly Agreement and is eligible for up to $350.0 million in potential future development-stage payments[117] - Company had $925.8 million in cash, cash equivalents, and marketable securities as of September 30, 2024[117] - Net cash used in operating activities for the nine months ended September 30, 2024 was $270.9 million, including a net loss of $286.4 million[120] - Cash provided by investing activities for the nine months ended September 30, 2024 was $58.7 million, primarily from net maturities of marketable securities[120] - Net cash provided by financing activities for the nine months ended September 30, 2024 was $4.3 million, mainly from proceeds from the issuance of common stock[120] - Company expects operating expenses to increase over the next twelve months due to clinical-stage development and biologics license application readiness activities[121] - Company's cash, cash equivalents, and marketable securities as of September 30, 2024 are expected to fund operations for at least the next 12 months[122] - Aggregate future minimum commitments under office and laboratory leases as of September 30, 2024 are $231.5 million[124] Manufacturing and Facilities - Company established a 100,000 square foot manufacturing facility in Research Triangle Park, NC, supporting clinical programs and potential commercial supply[91]

Beam Therapeutics Inc. (BEAM) came out with a quarterly loss of $1.17 per share versus the Zacks Consensus Estimate of a loss of $1.13. This compares to loss of $1.22 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.54%. A quarter ago, it was expected that this company would post a loss of $1.13 per share when it actually produced a loss of $1.11, delivering a surprise of 1.77%.Over the last four quarters, the company has su ...

Exhibit 99.1 Beam Therapeutics Reports Third Quarter 2024 Financial Results and Progress Across Priority Programs Initial Clinical Data for BEAM-101 and Preclinical Non-human Primate Data for ESCAPE Accepted for Presentation at American Society of Hematology (ASH) Annual Meeting 35 Patients Enrolled and Eight Patients Dosed in BEACON Phase 1/2 Trial of BEAM-101 in Sickle Cell Disease First Cohort Dosing Completed in Phase 1/2 Trial of BEAM-302 in Alpha-1 Antitrypsin Deficiency; Initial Clinical Data Expecte ...

Initial Clinical Data for BEAM-101 and Preclinical Non-human Primate Data for ESCAPE Accepted for Presentation at American Society of Hematology (ASH) Annual Meeting 35 Patients Enrolled and Eight Patients Dosed in BEACON Phase 1/2 Trial of BEAM-101 in Sickle Cell Disease First Cohort Dosing Completed in Phase 1/2 Trial of BEAM-302 in Alpha-1 Antitrypsin Deficiency; Initial Clinical Data Expected in 2025 Ended Third Quarter 2024 with $925.8 Million in Cash, Cash Equivalents and Marketable Securities; Expect ...