Editas Q3 Loss Narrower Than Expected, Revenues Increase Y/Y

Core Insights - Editas Medicine reported a narrower loss of $0.28 per share in Q3 2025, compared to a loss of $0.75 per share in the same quarter last year, outperforming the Zacks Consensus Estimate of a loss of $0.38 per share [1][5] - The company's collaboration and R&D revenues reached $7.5 million, significantly exceeding the Zacks Consensus Estimate of $2 million, primarily due to milestone revenue from a collaboration with Bristol Myers [2][5] - Editas has designated EDIT-401 as its lead in vivo gene-editing therapy aimed at reducing LDL cholesterol levels, with promising preclinical results showing over 90% LDL-C reductions [9][10] Financial Performance - R&D expenses decreased by 58% to $19.8 million from $47.6 million year-over-year, attributed to lower clinical and manufacturing costs following the abandonment of the reni-cel program [3] - General and administrative expenses were $12.3 million, down 32% year-over-year, due to reduced workforce costs after the reni-cel program's termination [4] - As of September 30, 2025, the company had cash and investments totaling $165.6 million, down from $178.5 million as of June 30, 2025, with expectations to fund operations into Q3 2027 [6] Pipeline Development - Editas currently has no approved products, focusing on pipeline development after ending the reni-cel program in December 2024 due to the lack of a commercial partner [7][8] - The company plans to file an investigational new drug application by mid-2026 and aims to provide initial human proof-of-concept data for EDIT-401 by the end of 2026 [12]