Financial Data and Key Metrics Changes - The company is advancing its lead development candidate, Edit 401, which has shown a 90% mean reduction in LDL cholesterol in preclinical studies, significantly outperforming current standard treatments that achieve 40% to 60% reductions [4][18][19] - Edit 401 is expected to provide a one-time treatment option with a durable lifetime reduction in LDL levels, which could transform the treatment landscape for hyperlipidemia [5][18] Business Line Data and Key Metrics Changes - Edit 401 has been selected as the lead program due to its compelling preclinical data, which supports rapid progression to human proof of concept studies expected by the end of 2026 [5][19] - The company is also focusing on optimizing candidates for its hematopoietic stem cell (HSC) program while advancing Edit 401 [20] Market Data and Key Metrics Changes - The market potential for Edit 401 is substantial, with the U.S. healthcare system projected to incur over $300 billion in expenditures related to atherosclerotic cardiovascular disease by 2035 [5] - Hyperlipidemia affects over 70 million patients in the U.S., indicating a significant patient population that could benefit from Edit 401 [6] Company Strategy and Development Direction - The company aims to be a leader in in vivo gene editing by developing CRISPR-based medicines that are best in class or first in class therapeutics [3] - The strategy involves a differentiated approach focusing on functional upregulation of gene expression rather than knockdown strategies used by competitors, allowing the company to target areas others cannot [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in Edit 401's potential to deliver meaningful benefits beyond current therapies, particularly for patients with refractory hyperlipidemia [7][18] - The company remains committed to advancing its pipeline and optimizing resources for its lead program while exploring other therapeutic areas [19][20] Other Important Information - Edit 401 utilizes a proprietary CRISPR-Cas9 enzyme and dual guide RNAs to target the LDLR gene, with a delivery strategy involving lipid nanoparticles [13] - Preclinical studies have shown no adverse effects, with transient increases in liver enzymes resolving within a week [13][110] Q&A Session Summary Question: What patient populations will Edit 401 target? - The company plans to consider segments such as heterozygous familial hypercholesterolemia and other refractory patient populations, with final selections depending on regulatory discussions [24] Question: Is there evidence that 90% LDL reduction leads to lower cardiovascular risk? - Clinical trials indicate that every 40 mg/dL reduction in LDL correlates with a 20% risk reduction for cardiovascular events, supporting the potential for greater risk reduction with Edit 401 [33] Question: How will LDL reduction in mice translate to humans? - The company is optimistic about the translatability of LDL reduction observed in non-human primates to humans, projecting that a human dose will be below 1 mg/kg [36] Question: How does Edit 401 fit into the competitive landscape? - Edit 401's significant LDL reduction effect size positions it as a potential treatment for severe patients, addressing the unmet needs of the 75% of patients who do not achieve their LDL targets with current therapies [42][43] Question: What are the safety profiles and off-target editing concerns? - The company has designed its gene editing tools to be highly specific, with no observed off-target effects or significant adverse events in preclinical studies [109] Question: Will there be room for redosing if needed? - The company believes there is potential for redosing if necessary, based on their analysis from non-human primate studies [120]

Core Points - Editas Medicine is unveiling its lead development candidate, EDIT-401, during a webinar presentation [1] - The presentation includes forward-looking statements regarding the company's future expectations and plans [2] Company Overview - Editas Medicine is focused on developing gene editing therapies, with EDIT-401 being a significant candidate in their pipeline [1] - The company emphasizes the importance of understanding the risks associated with forward-looking statements as outlined in their annual report [2]

Summary of Editas Medicine (EDIT) Webinar on Edit 401 Company Overview - **Company**: Editas Medicine (EDIT) - **Focus**: Development of CRISPR-based gene editing medicines, specifically targeting hyperlipidemia through Edit 401 Key Industry Insights - **Industry**: Gene editing and biopharmaceuticals - **Market Potential**: Atherosclerotic cardiovascular disease (ASCVD) is the leading cause of death globally, with U.S. healthcare expenditures projected to exceed $300 billion by 2035 [5][6] Core Product Insights - **Product**: Edit 401 - **Mechanism**: A one-time, in vivo CRISPR gene editing medicine aimed at significantly reducing LDL cholesterol levels - **Efficacy**: Demonstrated a mean reduction of 90% in LDL cholesterol in preclinical studies, compared to 40%-60% reductions achieved by current standard treatments like statins and PCSK9 inhibitors [4][17] - **Treatment Paradigm**: Potential to transform hyperlipidemia treatment by providing a durable, lifetime reduction in LDL levels, thus reducing cardiovascular event risks [5][17] Clinical Development Plans - **Next Steps**: Progressing Edit 401 towards human proof of concept studies, with expected data by the end of 2026 [5][18] - **Patient Segments**: Initial focus may include patients with heterozygous familial hypercholesterolemia (HeFH) and other refractory segments [23][132] Competitive Advantages - **Unique Approach**: Edit 401 utilizes a proprietary CRISPR-Cas9 enzyme and dual-guide RNAs to target the LDLR 3' untranslated region (UTR), leading to increased LDLR protein expression and enhanced LDL clearance [12][11] - **Safety Profile**: Preclinical studies showed no significant adverse effects, with transient increases in liver enzymes resolving within a week [108][109] Market Dynamics - **Patient Population**: Over 70 million patients in the U.S. suffer from elevated LDL levels, with 75% of patients failing to achieve LDL targets with current therapies [6][42] - **Cost Efficiency**: Edit 401 is expected to reduce overall healthcare costs by minimizing the need for multiple therapies and improving patient compliance [18][17] Additional Considerations - **Long-term Safety**: Ongoing studies will assess the durability of LDL reduction and the potential need for redosing [117][119] - **Regulatory Engagement**: Future patient segment selection for clinical trials will be determined in consultation with regulatory bodies [132] Conclusion - Editas Medicine is positioned to potentially revolutionize the treatment of hyperlipidemia with Edit 401, leveraging advanced gene editing technology to achieve significant LDL reductions and improve patient outcomes while addressing a substantial market need.

Core Insights - Editas Medicine has nominated EDIT-401 as its lead in vivo development candidate, marking a significant milestone in its vision for programmable gene editing [2][3] - EDIT-401 is designed to treat hyperlipidemia by directly editing the LDLR gene, aiming for a substantial reduction in LDL cholesterol levels [3][5] - The company has a strong cash position, with $178.5 million in cash and equivalents, expected to fund operations into the second quarter of 2027 [9] Product Overview - EDIT-401 is an experimental gene editing medicine that targets the LDLR gene to increase LDLR protein expression, potentially offering a one-time treatment for lifelong benefits [3][7] - Preclinical studies in non-human primates have shown a ~90% mean reduction in LDL-C levels, compared to 40-60% reductions seen with standard therapies [7] - The targeted approach of EDIT-401 aims to address the significant unmet need in the hyperlipidemia patient population, which exceeds 70 million in the U.S. [4][7] Market Potential - Atherosclerotic cardiovascular disease (ASCVD) is the leading cause of death globally, with U.S. healthcare expenditures projected to exceed $300 billion by 2035 [4] - The company anticipates a sizeable market potential for EDIT-401, supported by favorable healthcare economics and a business model aligned with typical biopharma margins [7] Upcoming Milestones - Editas plans to submit an investigational new drug (IND) application for EDIT-401 by mid-2026, with the goal of achieving human proof-of-concept data by the end of 2026 [8] - The company expects to identify an additional target cell type or tissue by the end of 2025 [8]

Core Points - Editas Medicine, Inc. is hosting a webinar on September 2, 2025, to announce its lead in vivo development candidate [1] - The webinar will be accessible live and archived through the company's website [2] - Editas Medicine focuses on developing transformative in vivo gene editing medicines using CRISPR technology [3] Company Overview - Editas Medicine is a pioneering gene editing company that aims to translate CRISPR/Cas12a and CRISPR/Cas9 systems into a pipeline of medicines for serious diseases [3] - The company is the exclusive licensee of Broad Institute's Cas12a patent estate and Cas9 patent estates for human medicines [3] - Editas Medicine's goal is to discover, develop, manufacture, and commercialize durable, precision in vivo gene editing medicines for a broad class of diseases [3]

分组1 - Editas Medicine reported a quarterly loss of $0.63 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.41, representing an earnings surprise of -53.66% [1] - The company posted revenues of $3.58 million for the quarter ended June 2025, exceeding the Zacks Consensus Estimate by 320.94%, compared to revenues of $0.51 million in the same quarter last year [2] - Editas shares have increased approximately 73.2% since the beginning of the year, significantly outperforming the S&P 500's gain of 8.4% [3] 分组2 - The current consensus EPS estimate for the upcoming quarter is -$0.39 on revenues of $0.85 million, and for the current fiscal year, it is -$1.93 on revenues of $11.24 million [7] - The Medical - Biomedical and Genetics industry, to which Editas belongs, is currently ranked in the bottom 43% of over 250 Zacks industries, indicating potential challenges for stock performance [8]

PART I. FINANCIAL INFORMATION [Item 1. Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The unaudited condensed consolidated financial statements for Editas Medicine, Inc. as of June 30, 2025, reflect significant asset and equity declines due to operating losses and $66.9 million in restructuring charges [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Balance Sheet Summary (in thousands) | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Current Assets** | $182,796 | $289,315 | | **Total Assets** | $210,581 | $341,589 | | **Total Current Liabilities** | $65,937 | $77,225 | | **Total Liabilities** | $191,392 | $207,315 | | **Total Stockholders' Equity** | $19,189 | $134,274 | - Total assets decreased significantly from **$341.6 million** at the end of 2024 to **$210.6 million** as of June 30, 2025. This was driven by a reduction in marketable securities, accounts receivable, and property and equipment[9](index=9&type=chunk) - Total stockholders' equity saw a sharp decline from **$134.3 million** to **$19.2 million** over the six-month period, largely due to the accumulated deficit increasing from **$1.47 billion** to **$1.60 billion**[9](index=9&type=chunk) [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Statement of Operations Summary (in thousands, except per share data) | Metric | Q2 2025 | Q2 2024 | H1 2025 | H1 2024 | | :--- | :--- | :--- | :--- | :--- | | Revenues | $3,578 | $513 | $8,236 | $1,649 | | Research and development | $16,181 | $54,210 | $42,774 | $102,997 | | General and administrative | $12,859 | $18,206 | $26,234 | $37,545 | | Restructuring and impairment charges | $26,082 | $— | $66,935 | $— | | **Operating Loss** | **($51,544)** | **($71,903)** | **($127,707)** | **($138,893)** | | **Net Loss** | **($53,235)** | **($67,607)** | **($129,323)** | **($129,557)** | | Net loss per share | ($0.63) | ($0.82) | ($1.54) | ($1.58) | - The company incurred significant restructuring and impairment charges of **$26.1 million** in Q2 2025 and **$66.9 million** in H1 2025, which were not present in the prior year[11](index=11&type=chunk) - Research and development expenses decreased substantially to **$42.8 million** for the six months ended June 30, 2025, from **$103.0 million** in the same period of 2024, reflecting a strategic shift and cost-cutting measures[11](index=11&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash Flow Summary for Six Months Ended June 30 (in thousands) | Cash Flow Activity | 2025 | 2024 | | :--- | :--- | :--- | | Net cash used in operating activities | ($98,011) | ($106,934) | | Net cash provided by investing activities | $99,037 | $47,209 | | Net cash provided by financing activities | $5,975 | $514 | | **Net increase (decrease) in cash** | **$7,001** | **($59,211)** | - Cash used in operating activities for the first six months of 2025 was **$98.0 million**, a decrease from **$106.9 million** in the prior year period, despite a similar net loss, due to changes in working capital and non-cash charges like impairment[19](index=19&type=chunk) - Financing activities provided **$6.0 million** in cash, primarily from an at-the-market equity offering which generated **$8.6 million** in proceeds[19](index=19&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) - The company expects its existing cash, cash equivalents, and marketable securities of **$178.5 million** (as of June 30, 2025) will be sufficient to fund operations for at least twelve months from the issuance date of the financial statements[25](index=25&type=chunk)[27](index=27&type=chunk) - In December 2024, the company discontinued the clinical development of its reni-cel program, leading to a workforce reduction of approximately **180 positions (65%)**. This resulted in total restructuring and impairment charges of **$79.2 million** since the plan's inception[59](index=59&type=chunk)[60](index=60&type=chunk) Restructuring and Impairment Charges Incurred (in thousands) | Charge Type | Q2 2025 | H1 2025 | | :--- | :--- | :--- | | Employee termination benefits | $813 | $4,322 | | Contract costs | $23,466 | $52,341 | | Accelerated expense/lease termination | $1,803 | $6,548 | | Impairment charges | $— | $3,724 | | **Total** | **$26,082** | **$66,935** | - The company sold future revenues from its Vertex License Agreement to DRI Healthcare for an upfront payment of **$57.0 million** in October 2024. This transaction is accounted for as debt with an estimated effective interest rate of **15.1%**[54](index=54&type=chunk)[55](index=55&type=chunk)[56](index=56&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the strategic pivot to in vivo gene editing, the financial impact of reni-cel discontinuation, and the company's liquidity position expected to fund operations into Q2 2027 [Overview](index=21&type=section&id=Overview) - The company is now focused on developing in vivo gene editing medicines using functional upregulation, aiming to increase the expression of normal genes to treat diseases[77](index=77&type=chunk) - In December 2024, Editas discontinued the commercialization of its reni-cel program for sickle cell disease to optimize its cost structure and accelerate its pivot to in vivo gene editing medicines[78](index=78&type=chunk) - Key strategic goals include selecting a lead development candidate by September 2025, submitting an investigational new drug (IND) application by mid-2026, and achieving human proof-of-concept by year-end 2026[77](index=77&type=chunk) [Results of Operations](index=26&type=section&id=Results%20of%20Operations) Comparison of Three Months Ended June 30, 2025 and 2024 (in thousands) | Metric | Q2 2025 | Q2 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Revenues | $3,578 | $513 | $3,065 | n/m | | R&D Expenses | $16,181 | $54,210 | ($38,029) | (70)% | | G&A Expenses | $12,859 | $18,206 | ($5,347) | (29)% | | Restructuring Charges | $26,082 | $— | $26,082 | 100% | | **Net Loss** | **($53,235)** | **($67,607)** | **$14,372** | **(21)%** | - The **$38.0 million** decrease in Q2 2025 R&D expenses was primarily driven by a **$24.4 million** reduction in external costs related to the discontinued reni-cel program and a **$5.6 million** decrease in employee-related expenses from the workforce reduction[102](index=102&type=chunk)[104](index=104&type=chunk) Comparison of Six Months Ended June 30, 2025 and 2024 (in thousands) | Metric | H1 2025 | H1 2024 | Change ($) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Revenues | $8,236 | $1,649 | $6,587 | n/m | | R&D Expenses | $42,774 | $102,997 | ($60,223) | (58)% | | G&A Expenses | $26,234 | $37,545 | ($11,311) | (30)% | | Restructuring Charges | $66,935 | $— | $66,935 | 100% | | **Net Loss** | **($129,323)** | **($129,557)** | **$234** | **—%** | - For the first half of 2025, R&D expenses fell by **$60.2 million** compared to H1 2024, mainly due to a **$34.5 million** decrease in external reni-cel program costs and an **$8.0 million** reduction in employee expenses[111](index=111&type=chunk)[113](index=113&type=chunk) [Liquidity and Capital Resources](index=31&type=section&id=Liquidity%20and%20Capital%20Resources) - As of June 30, 2025, the company had **$178.5 million** in cash, cash equivalents, and marketable securities[117](index=117&type=chunk) - Management expects that existing cash, combined with payments from the Vertex license agreement, will fund operating expenses and capital requirements into the second quarter of 2027[131](index=131&type=chunk) - The company has an At-The-Market (ATM) facility with TD Cowen, with **$141.4 million** remaining available for issuance as of June 30, 2025[118](index=118&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=34&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is interest rate sensitivity related to its **$178.5 million** in cash, cash equivalents, and marketable securities, with no material foreign currency exposure - The company's primary market risk exposure is to interest rate changes affecting its **$178.5 million** in cash and investments[140](index=140&type=chunk) - Due to the short-term maturities and low-risk profile of its investments (primarily money market funds and U.S. government securities), a **1%** change in interest rates is not expected to have a material impact on their fair market value[140](index=140&type=chunk) - The company does not have any material exposure to foreign currency exchange rate risk as liabilities are substantially denominated in U.S. dollars[141](index=141&type=chunk) [Controls and Procedures](index=35&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting during the quarter - As of June 30, 2025, the Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective at the reasonable assurance level[142](index=142&type=chunk) - No changes occurred during the quarter that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[143](index=143&type=chunk) PART II. OTHER INFORMATION [Legal Proceedings](index=36&type=section&id=Item%201.%20Legal%20Proceedings) The company may face litigation in the ordinary course of business, and its intellectual property rights are subject to ongoing priority and validity disputes - The company may become involved in litigation from the ordinary course of business[146](index=146&type=chunk) - Certain intellectual property rights are subject to priority and validity disputes, which could have a material adverse effect on the business[146](index=146&type=chunk) [Risk Factors](index=36&type=section&id=Item%201A.%20Risk%20Factors) This section details significant risks from ongoing intellectual property disputes concerning CRISPR/Cas9 patents in the U.S. and Europe, where unfavorable outcomes could lead to loss of valuable IP rights - The company's in-licensed patents for CRISPR/Cas9 technology are subject to significant priority and validity disputes in the U.S. and Europe[148](index=148&type=chunk) - A second interference proceeding between the Broad Institute (Editas's licensor) and CVC (University of California) is ongoing. A May 2025 court decision affirmed-in-part and vacated-in-part a prior ruling, remanding the case back to the Patent Trial and Appeal Board (PTAB) for further review[151](index=151&type=chunk) - Additional interference proceedings involving ToolGen, Inc. and Sigma-Aldrich have been declared and are currently suspended pending the outcome of the Broad and CVC appeal[153](index=153&type=chunk)[154](index=154&type=chunk) - In Europe, certain in-licensed patents from Broad have been revoked by the European Patent Office Opposition Division, with appeals pending. Unfavorable outcomes could materially harm the company's business[158](index=158&type=chunk)[159](index=159&type=chunk) [Other Information](index=38&type=section&id=Item%205.%20Other%20Information) This section discloses that no directors or officers adopted or terminated Rule 10b5-1 or non-Rule 10b5-1 trading arrangements during the quarter - No directors or officers adopted or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement during the quarterly period[163](index=163&type=chunk) [Exhibits](index=39&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Quarterly Report on Form 10-Q, including required certifications and financial data in Inline XBRL format - Lists the exhibits filed with the Form 10-Q, including the CEO and CFO certifications (Rule 13a-14(a)) and XBRL data files[165](index=165&type=chunk)

[Business Highlights and Outlook](index=1&type=section&id=Business%20Highlights%20and%20Outlook) Editas Medicine reported significant progress in its in vivo gene editing strategy during Q2 2025, on track to select a lead development candidate, file an IND, and achieve human proof-of-concept by year-end 2026, while maintaining a strong financial position - Key strategic milestones are on track: selection of a lead development candidate in September 2025, IND filing by mid-2026, and human proof-of-concept by year-end 2026[1](index=1&type=chunk)[2](index=2&type=chunk) - The company has a strong cash position, with an operational runway expected to last into the **second quarter of 2027**[1](index=1&type=chunk)[9](index=9&type=chunk) - Presented positive preclinical proof-of-concept data at ASGCT, TIDES, and EHA, validating its gene upregulation strategy and in vivo delivery platform[1](index=1&type=chunk)[3](index=3&type=chunk) [Research and Development Progress](index=1&type=section&id=Recent%20Achievements%20and%20Outlook) The company presented new preclinical proof-of-concept data for both liver cells and hematopoietic stem cells, demonstrating the potential of its technology [Liver Cells Program](index=1&type=section&id=Liver%20Cells) At ASGCT and TIDES meetings, Editas presented preclinical data for an undisclosed liver target, showing successful upregulation of target protein expression and reduction of a disease-associated biomarker - Shared preclinical proof-of-concept data for an undisclosed liver target, showing upregulation of target protein expression and reduction of a disease-associated biomarker in a mouse model[4](index=4&type=chunk) [Hematopoietic Stem Cells (HSCs) Program](index=1&type=section&id=Hematopoietic%20Stem%20Cells) At the EHA 2025 Congress, the company presented new in vivo data from non-human primates, demonstrating therapeutically relevant gene editing levels in hematopoietic stem cells with a single dose of tLNP - Demonstrated therapeutically relevant levels of HBG1/2 promoter editing in hematopoietic stem cells of non-human primates (NHPs) with a single dose of a novel targeted lipid nanoparticle (tLNP)[5](index=5&type=chunk) [Platform Enhancements](index=1&type=section&id=Platform%20Enhancements%20and%20Other%20Cells%2FTissues) Editas showcased its proprietary tLNP's in vivo gene editing capabilities at ASGCT and remains on schedule to identify and disclose a new target cell type or tissue by the end of 2025 - The company is on track to establish and disclose a further target cell type/tissue for its in vivo platform by the end of 2025[7](index=7&type=chunk) [Partnership Update](index=3&type=section&id=Partnership%20Update) The collaboration with Bristol Myers Squibb achieved a key milestone with the acceptance of the first IND/CTA for the CD19 HD Allo CAR T program, triggering a milestone payment and marking the first clinical use of Editas' technology in this setting - The first IND/CTA was accepted for the CD19 HD Allo CAR T program under the Bristol Myers Squibb collaboration, triggering a milestone payment[8](index=8&type=chunk) - This marks the first time Editas' in-house developed technology will be used clinically in an allogeneic CAR-T setting, targeting autoimmune disease[8](index=8&type=chunk) [Financial Results](index=3&type=section&id=Second%20Quarter%202025%20Financial%20Results) In Q2 2025, Editas reported a reduced net loss compared to the prior year, driven by increased collaboration revenue and significantly lower operating expenses, ending the quarter with a cash balance of $178.5 million Cash Position | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash, cash equivalents, and marketable securities | **$178.5 million** | **$269.9 million** | Q2 2025 vs Q2 2024 Financial Performance | Metric | Q2 2025 | Q2 2024 | Change | | :--- | :--- | :--- | :--- | | Collaboration Revenue | **$3.6 million** | **$0.5 million** | **+$3.1 million** | | R&D Expenses | **$16.2 million** | **$54.2 million** | **-$38.0 million** | | G&A Expenses | **$12.9 million** | **$18.2 million** | **-$5.3 million** | | Restructuring Charges | **$26.1 million** | **$0** | **+$26.1 million** | | Net Loss | **($53.2 million)** | **($67.6 million)** | **+$14.4 million** | | Net Loss per Share | **($0.63)** | **($0.82)** | **+$0.19** | - The decrease in R&D and G&A expenses was primarily due to the discontinuation of the reni-cel clinical program and related workforce reduction initiated in December 2024[12](index=12&type=chunk) [Financial Statements](index=5&type=section&id=Financial%20Statements) This section contains the unaudited Consolidated Statement of Operations for the three and six months ended June 30, 2025, and the Selected Consolidated Balance Sheet Items as of June 30, 2025 [Consolidated Statement of Operations](index=5&type=section&id=Consolidated%20Statement%20of%20Operations) The company reported a net loss of $53.2 million for the three months ended June 30, 2025, compared to $67.6 million for the same period in 2024, with the six-month net loss nearly flat year-over-year Consolidated Statement of Operations (Unaudited, in thousands) | | Three Months Ended June 30, | Six Months Ended June 30, | | :--- | :--- | :--- | | | **2025** | **2024** | **2025** | **2024** | | Collaboration revenues | **$3,578** | **$513** | **$8,236** | **$1,649** | | Total operating expenses | **$55,122** | **$72,416** | **$135,943** | **$140,542** | | Operating loss | **($51,544)** | **($71,903)** | **($127,707)** | **($138,893)** | | Net loss | **($53,235)** | **($67,607)** | **($129,323)** | **($129,557)** | | Net loss per share | **($0.63)** | **($0.82)** | **($1.54)** | **($1.58)** | [Selected Consolidated Balance Sheet Items](index=6&type=section&id=Selected%20Consolidated%20Balance%20Sheet%20Items) As of June 30, 2025, the company reported total assets of $210.6 million and total stockholders' equity of $19.2 million, a decrease from the end of 2024 Selected Consolidated Balance Sheet Items (Unaudited, in thousands) | | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash, cash equivalents, and marketable securities | **$178,501** | **$269,913** | | Working capital | **$116,859** | **$212,090** | | Total assets | **$210,581** | **$341,589** | | Total stockholders' equity | **$19,189** | **$134,274** |

Core Insights - Editas Medicine is progressing towards selecting its first in vivo development candidate in September 2025 and aims to file an IND by mid-2026, with human proof-of-concept expected by the end of 2026 [2][3][6] Business Updates - The company presented new preclinical proof-of-concept data for its in vivo programs, demonstrating the potential of its lipid nanoparticle (LNP) platform and gene upregulation strategy [2][3] - Editas has achieved a milestone with the acceptance of the first IND/CTA for its CD19 HD Allo CAR T program in collaboration with Bristol Myers Squibb, marking a significant step in clinical application [6] Financial Performance - For the second quarter of 2025, Editas reported a net loss of $53.2 million, or $0.63 per share, an improvement from a net loss of $67.6 million, or $0.82 per share, in the same period of 2024 [12][15] - Collaboration and other research and development revenues increased to $3.6 million in Q2 2025, compared to $0.5 million in Q2 2024, primarily due to recognized revenue from achieved deliverables [12][15] - Research and development expenses decreased significantly to $16.2 million in Q2 2025 from $54.2 million in Q2 2024, attributed to the discontinuation of the reni-cel program [12][15] Cash Position - As of June 30, 2025, the company had cash, cash equivalents, and marketable securities totaling $178.5 million, down from $269.9 million at the end of 2024, with expectations to fund operations into the second quarter of 2027 [8][16]

Company Performance - Editas Medicine (EDIT) has gained approximately 98.4% year-to-date, significantly outperforming the average return of -5.4% for the Medical sector [4] - Editas Medicine currently holds a Zacks Rank of 2 (Buy), indicating a favorable outlook based on earnings estimate revisions [3][4] - The Zacks Consensus Estimate for Editas Medicine's full-year earnings has increased by 0.4% over the past quarter, reflecting improved analyst sentiment [4] Industry Context - Editas Medicine is part of the Medical - Biomedical and Genetics industry, which consists of 492 companies and ranks 147 in the Zacks Industry Rank [6] - The Medical - Biomedical and Genetics industry has seen an average gain of 1.5% this year, indicating that Editas Medicine is performing better than its industry peers [6] - Another stock in the Medical sector, Adherex Technologies Inc. (FENC), has also shown strong performance with a year-to-date return of 33.1% and a Zacks Rank of 2 (Buy) [5][6]