Beam Therapeutics (BEAM) reported a loss of $1.09 per share for the fourth quarter of 2024, which was narrower than the Zacks Consensus Estimate of a loss of $1.10. The company had recorded earnings of $1.73 per share in the year-ago quarter.See the Zacks Earnings Calendar to stay ahead of market-making news.Total revenues, comprising license and collaboration revenues, came in at $30.1 million in the fourth quarter compared with $316.2 million reported in the year-ago period. The top line beat the Zacks Co ...

Beam Therapeutics Inc. (BEAM) came out with a quarterly loss of $1.09 per share versus the Zacks Consensus Estimate of a loss of $1.10. This compares to earnings of $1.73 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 0.91%. 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 $1.17, delivering a surprise of -3.54%.Over the last four quarters, the company ha ...

Financial Performance - The company reported net losses of $376.7 million, $132.5 million, and $289.1 million for the years ended December 31, 2024, 2023, and 2022, respectively, with an accumulated deficit of $1.6 billion as of December 31, 2024[634]. - The net loss for the year ended December 31, 2024, was $376.7 million, compared to a net loss of $132.5 million in 2023, an increase of $244.2 million[644]. - The company has not generated any revenue from product sales to date and expects to continue incurring significant operating losses as it develops its portfolio[634]. - The company has not generated any revenue from product sales and does not expect to do so in the near future[655]. - The company expects to incur significant operating losses for the foreseeable future as it continues its research and development efforts[655]. - License and collaboration revenue decreased to approximately $63.5 million for the year ended December 31, 2024, from $377.7 million in 2023, a decline of $314.2 million[645]. - Research and development expenses were $367.6 million in 2024, down from $437.4 million in 2023, reflecting a decrease of $69.8 million[646]. - General and administrative expenses decreased to $111.5 million in 2024 from $116.8 million in 2023, a reduction of $5.3 million[648]. Cash and Funding - As of December 31, 2024, the company had $850.7 million in cash, cash equivalents, and marketable securities[658]. - The company has entered into a sales agreement allowing it to sell up to $1.1 billion in common stock, with $864.0 million raised as of December 31, 2024[657]. - The company expects its cash, cash equivalents, and marketable securities as of December 31, 2024, to fund operating expenses and capital expenditures for at least the next 12 months[669]. - Future funding requirements will depend on advancing clinical trials, research programs, and establishing a sales and marketing infrastructure for product candidates[670]. - The company may need to rely on equity offerings, debt financings, and collaborations to meet its cash needs, as it does not have any committed external source of capital[673]. - Net cash used in operating activities for the year ended December 31, 2024 was $347.2 million, compared to $149.2 million in 2023, reflecting a significant increase in operational losses[661][663]. - Net cash provided by financing activities decreased to $7.7 million in 2024 from $276.4 million in 2023, with a notable drop in proceeds from equity offerings[667][668]. Clinical Development - The company is advancing its BEAM-101 program for sickle cell disease, with a Phase 1/2 clinical trial (BEACON trial) targeting 45 patients aged 18 to 35, expecting to dose 30 patients by mid-2025[623]. - The company is conducting a Phase 1/2 clinical trial of BEAM-302 for alpha-1 antitrypsin deficiency (AATD), with initial clinical data expected in the first half of 2025[628]. - The company is also conducting a Phase 1/2 clinical trial of BEAM-301 for glycogen storage disease 1a (GSD1a), with dosing expected to commence in early 2025[631]. - The company is pursuing a long-term, staged development strategy for its base editing approach, focusing on hematological diseases and expanding its platform for broader therapeutic applicability[621]. - The company anticipates significant increases in research and development expenses as it advances clinical trials for its product candidates[647]. Collaborations and Agreements - The company has entered into multiple collaboration agreements, including with Verve Therapeutics and Pfizer, to leverage its base editing technology for various therapeutic applications[636]. - The company has potential obligations to pay up to $100.0 million in technology milestone payments and $220.0 million in product milestone payments related to its acquisition of Guide[678]. - The company has outstanding success payment obligations of up to an additional $90.0 million each to Harvard and Broad Institute as of December 31, 2024[676]. - The company has not recognized any milestone revenue from its agreements to date[689]. - The company has not recognized any royalty revenue from its agreements to date[690]. - Revenue from licenses is recognized when the license is transferred to the customer and can be used[688]. - Deferred revenue expected to be recognized within the next twelve months is classified as a current liability[692]. Operational Commitments and Risks - Aggregate future minimum commitments under noncancelable operating leases are $227.7 million as of December 31, 2024[675]. - The company evaluates the probability of achieving development milestones and adjusts the transaction price accordingly, affecting revenues and earnings[689]. - The company is exposed to interest rate sensitivity, but a 10% change in interest rates is not expected to materially affect the fair market value of its investment portfolio[697]. - The company does not currently face significant foreign currency exchange risk but may in the future due to contracts with international vendors[698]. - Inflation has not had a material effect on the company's financial statements, but future operations may be adversely affected[699]. - The company anticipates that operating expenses will continue to increase substantially as it advances its portfolio of programs[669].

Financial Position - As of December 31, 2024, Beam Therapeutics Inc. estimates cash, cash equivalents, and marketable securities of approximately $850.7 million[6] - The estimated cash balance is preliminary and subject to completion of financial statement closing procedures, indicating potential variability in actual results[7] - The company has not finalized its full financial results for the fourth quarter and fiscal year ended December 31, 2024[6] - The company emphasizes the importance of not placing undue reliance on preliminary estimates of financial condition[7] Business Development - Beam Therapeutics announced progress across its base editing portfolio and outlined key anticipated milestones in a press release dated January 13, 2025[11] - The company is focused on developing life-long, curative, precision genetic medicines for patients through base editing technology[12] - The company plans to advance its clinical trial designs and expectations for product candidates BEAM-101, BEAM-103, BEAM-301, and BEAM-302[12] Future Outlook - The company is preparing for presentations at the 43rd Annual J.P. Morgan Healthcare Conference on January 13, 2025[9] - Forward-looking statements include expectations related to the therapeutic applications of the company's technology for conditions such as SCD, AATD, GSD1a, and beta thalassemia[12] - The company faces risks related to the development and commercialization of its product candidates, including regulatory approval and funding availability[12]

Enrollment Target for Adult Sickle Cell Disease Patients Achieved in BEACON Trial ofBEAM-101; Dosing of 30 Patients and Updated Data Expected by Mid-2025 Initial Data from Phase 1/2 Trial of BEAM-302 in Alpha-1 Antitrypsin Deficiency Expected in First Half 2025 Dosing Expected to Initiate in Phase 1/2 Trial of BEAM-301 in Glycogen Storage Disease Type 1a in Early 2025 IND-enabling Studies of ESCAPE Nongenotoxic Conditioning Approach Ongoing; Healthy Volunteer Study of BEAM-103 Antibody Expected to Initiate ...

Core Insights - Beam Therapeutics Inc. is a biotechnology company focused on developing precision genetic medicines through base editing technology [2] Company Overview - Beam Therapeutics aims to establish a leading, fully integrated platform for precision genetic medicines, incorporating a suite of gene editing and delivery technologies [2] - The company is building internal manufacturing capabilities to support its gene editing technologies, particularly its proprietary base editing technology, which allows for precise and efficient single base changes in targeted genomic sequences without causing double-stranded breaks in DNA [2] - Beam is committed to providing life-long cures for patients with serious diseases and emphasizes its values-driven approach, focusing on its people and cutting-edge science [2] Upcoming Events - Management will participate in several investor conferences, including: - TD Cowen 45 Annual Health Care Conference on March 3, 2025, at 1:50 p.m. ET [3] - Leerink Partners Global Biopharma Conference on March 10, 2025, at 1:40 p.m. ET [3] - Barclays Global Healthcare Conference on March 11, 2025, at 3:30 p.m. ET [3] - Live webcasts of these events will be available on the company's website and archived for 60 days [1]

Group 1 - Beam Therapeutics Inc. (BEAM) shares have increased by 22.2% in the past four weeks, closing at $28.57, with a mean price target of $47.79 indicating a potential upside of 67.3% [1] - The average of 14 short-term price targets ranges from a low of $23 to a high of $80, with a standard deviation of $20.04, suggesting variability in analyst estimates [2] - Analysts show strong agreement on BEAM's ability to report better earnings than previously predicted, which supports the potential for stock upside [4][9] Group 2 - The Zacks Consensus Estimate for BEAM's current year earnings has increased by 4.3% over the past month, with two estimates rising and no negative revisions [10] - BEAM holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates, indicating strong potential for near-term upside [11] - While consensus price targets may not be reliable for predicting exact stock gains, they can provide a directional guide for price movement [12]

Group 1 - Beam Therapeutics Inc. (BEAM) has shown strong year-to-date performance, returning 10.5%, outperforming the Medical sector average of 5.6% [4] - The Zacks Consensus Estimate for BEAM's full-year earnings has increased by 7.5% over the past quarter, indicating improved analyst sentiment [4] - Beam Therapeutics is ranked 2 (Buy) in the Zacks Rank system, which focuses on earnings estimates and revisions [3] Group 2 - Beam Therapeutics is part of the Medical - Biomedical and Genetics industry, which consists of 510 companies and is currently ranked 68 in the Zacks Industry Rank [6] - The average return for the Medical - Biomedical and Genetics industry so far this year is 4.3%, indicating that BEAM is performing better than its industry peers [6] - In contrast, Aurora Cannabis Inc. (ACB), another outperforming Medical stock, has returned 41.9% year-to-date and has a Zacks Rank of 1 (Strong Buy) [5][7]

Beam Therapeutics (BEAM) Conference February 06, 2025 02:30 PM ET Company Participants Debjit Chattopadhyay - Managing DirectorJohn Evans - CEO & Board Member Debjit Chattopadhyay All right. Good afternoon, and thank you for joining us at Guggenheim's second Smithcap Conference. I am Devjit, one of the therapeutic analysts here. And joining me from Beam is CEO, John Evans. John, thank you for your time despite the miserable weather. John Evans Great to be here. Debjit Chattopadhyay I know there is a huge am ...

Company Overview - Beam Therapeutics Inc. is a biotechnology company focused on developing precision genetic medicines through base editing [3] - The company aims to establish a leading, fully integrated platform for precision genetic medicines, incorporating a suite of gene editing and delivery technologies [3] - Beam is building internal manufacturing capabilities to support its gene editing technologies, particularly its proprietary base editing technology [3] Upcoming Events - John Evans, the CEO of Beam Therapeutics, will participate in a fireside chat at the Guggenheim SMID Cap Biotech Conference on February 6, 2025, at 2:30 p.m. ET in New York [1] - A live webcast of the event will be available on the company's investor section of the website and will be archived for 60 days [2]