EDIT Stock Falls on Decision to End Reni-Cel Studies, Cut Workforce

Core Viewpoint - Editas Medicine announced the termination of its lead gene editing therapy, reni-cel, leading to a 23.8% drop in shares due to a lack of commercial partnership and a significant cash crunch [1][2][3] Company Developments - Editas plans to collaborate with clinical study sites and regulators to determine the future for patients in the RUBY and EdiTHAL studies, which have been abandoned [2] - The company will focus on in vivo pipeline development, aiming for human proof of concept in about two years, while implementing cost-saving measures and reducing its workforce by approximately 65% over the next six months to extend its cash runway into Q2 2027 [3][4] - Editas has demonstrated in vivo preclinical proof of concept for editing hematopoietic stem and progenitor cells, achieving around 40% editing of the HBG1/2 promoter site using its proprietary targeted lipid nanoparticle (tLNP) system [6][7][8] Clinical and Market Outlook - The in vivo candidate for SCD and TDT has not yet entered clinical-stage development, indicating a lengthy timeline before commercialization [4] - Editas believes it has a clear path to develop a potentially first- and best-in-class in vivo gene-edited medicine for SCD and TDT, which could be more beneficial than the ex-vivo candidate, reni-cel [10] - The company expects to share pre-clinical data and development timelines in Q1 2025 [11] Stock Performance - Over the past three months, Editas shares have decreased by 62.7%, compared to an 11.1% decline in the industry [5]