Editas Medicine(US:EDIT)2024-05-08 11:08Financial Performance - Editas Medicine reported a net loss of $62.0 million, or $0.76 per share, for Q1 2024, compared to a net loss of $49.0 million, or $0.71 per share, in Q1 2023[15]. - Collaboration and other research and development revenues decreased to $1.1 million in Q1 2024 from $9.9 million in Q1 2023, primarily due to a one-time sale of oncology assets[15]. - Research and development expenses increased by $11.0 million to $48.8 million in Q1 2024, driven by sublicense and license payments as well as clinical and manufacturing costs for the reni-cel program[15]. - Cash, cash equivalents, and marketable securities as of March 31, 2024, were $376.8 million, down from $427.1 million as of December 31, 2023[11]. Clinical Trials and Developments - Editas has completed enrollment of the adult cohort in the Phase 1/2/3 RUBY trial for severe sickle cell disease and is on track to present clinical data in mid-2024[6]. - The company continues to enroll patients in the EdiTHAL trial for transfusion-dependent beta-thalassemia, with additional data expected by year-end 2024[6]. - Editas signed a two-year extension with Bristol Myers Squibb for collaboration on T cell medicines for cancer and autoimmune diseases[7]. - The company is set to present pre-clinical data at the ASGCT Annual Meeting, showcasing advancements in in vivo gene editing technologies[10]. - The company aims to establish in vivo preclinical proof-of-concept for an undisclosed indication by year-end 2024[18]. Financial Outlook - Editas expects its cash runway to support operations into 2026, aided by near-term license fees and contingent payments from Vertex Pharmaceuticals[11].