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Editas Medicine (EDIT) Reports Q1 Loss, Tops Revenue Estimates
ZACKS· 2025-05-12 22:45
Core Insights - Editas Medicine reported a quarterly loss of $0.43 per share, better than the Zacks Consensus Estimate of a loss of $0.51, and an improvement from a loss of $0.76 per share a year ago, resulting in an earnings surprise of 15.69% [1] - The company generated revenues of $4.66 million for the quarter ended March 2025, exceeding the Zacks Consensus Estimate by 385.21%, compared to $1.14 million in the same quarter last year [2] - Editas shares have increased by approximately 14.2% since the beginning of the year, contrasting with a -3.8% decline in the S&P 500 [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$0.40 on revenues of $0.98 million, and for the current fiscal year, it is -$1.53 on revenues of $6.74 million [7] - The estimate revisions trend for Editas is currently favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Medical - Biomedical and Genetics industry, to which Editas belongs, is currently ranked in the top 34% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]
Metagenomi Reports Business Updates and Full Year 2024 Financial Results
Globenewswire· 2025-03-17 20:05
Core Insights - Metagenomi, Inc. reported significant advancements in its hemophilia A program, demonstrating sustained Factor VIII (FVIII) activity in nonhuman primate studies for over 16 months, supporting the durability of its gene editing therapy [1][7] - The company is well-capitalized with $248.3 million in cash and equivalents as of December 31, 2024, providing a cash runway anticipated to support operations into 2027 [1][10] - Metagenomi plans to submit its first Investigational New Drug (IND) application for hemophilia A in 2026 and aims to nominate one to two development candidates from its Wave 1 Ionis collaboration programs in 2025 [2][14] Hemophilia A Program - The company has declared MGX-001 as a development candidate for hemophilia A, which includes a bioengineered FVIII construct with higher activity levels compared to the wild type [7] - An oral presentation at the American Society of Hematology (ASH) highlighted the sustained FVIII activity in nonhuman primate studies, reinforcing the potential of MGX-001 [7] - Plans are in place to release final FVIII durability and related preclinical study data in the first half of 2025 [14] Secreted Protein Deficiencies - Metagenomi has identified targets for wholly-owned therapeutic programs leveraging the gene integration approach used in MGX-001, achieving in vivo proof-of-concept in rodents across three secreted protein targets [4] - The company plans to demonstrate nonhuman primate proof-of-concept for its lead secreted protein deficiency target in 2025 and nominate a development candidate in 2026 [9] Cardiometabolic Indications - The company advanced four Wave 1 Ionis collaboration programs to lead optimization, including targets for transthyretin amyloidosis and refractory hypertension, achieving in vivo proof-of-concept in rodents [8] - Demonstrated a 95% protein knockdown in spontaneous hypertensive rats, showcasing the progress made in the collaboration [8] Financial Performance - For the full year ended December 31, 2024, Metagenomi reported research and development expenses of $109.2 million, an increase from $94.4 million in 2023 [10] - General and administrative expenses rose to $32.0 million in 2024 from $28.8 million in 2023 [11] - The net loss for 2024 was $78.1 million, compared to a net loss of $68.3 million in 2023, with a net loss per share of $2.36 [20]