Beam Therapeutics(BEAM) - 2024 Q3 - Quarterly Results

Financial Performance - Cash, cash equivalents, and marketable securities totaled $925.8 million as of September 30, 2024, down from$1.2 billion as of December 31, 2023[3] - Research and Development (R&D) expenses were $94.3 million for Q3 2024, a decrease of 5.8$100.1 million in Q3 2023[3] - General and Administrative (G&A) expenses increased to $26.5 million in Q3 2024, compared to$25.4 million in Q3 2023[3] - The net loss for Q3 2024 was $96.7 million, or$1.17 per share, compared to a net loss of $96.1 million, or$1.22 per share, in Q3 2023[3] - The company expects its cash position to fund operations into 2027, supporting key milestones for multiple programs[4] Clinical Trials and Developments - A total of 35 patients have been enrolled in the BEACON Phase 1/2 trial of BEAM-101, with eight patients dosed[1] - The first cohort dosing for the BEAM-302 trial in alpha-1 antitrypsin deficiency has been completed, with initial clinical data expected in 2025[1] - Beam anticipates initiating Phase 1-enabling preclinical studies for ESCAPE by the end of 2024[2] - Beam has nominated BEAM-103 and BEAM-104 as development candidates for its ESCAPE technology, targeting sickle cell disease and beta-thalassemia[1] - The company will present additional data from the BEACON trial and ESCAPE at the ASH Annual Meeting in December 2024[2]