Core Insights - Editas Medicine reported a wider loss of 55 cents per share in Q4 2024, compared to the Zacks Consensus Estimate of a loss of 39 cents, and a loss of 23 cents per share in the same quarter last year [1][9] - The company's total revenues for Q4 2024 were $30.6 million, down 49% from $60 million in Q4 2023, missing the Zacks Consensus Estimate of $38 million [2][9] - Editas' stock is declining in pre-market trading due to weaker-than-expected earnings results [3] Financial Performance - R&D expenses decreased by 30% to $48.6 million in Q4 2024 from $69.6 million in Q4 2023, attributed to prior sublicense payments to Vertex Pharmaceuticals [4] - General and administrative expenses rose by 13% year-over-year to $16.4 million due to increased professional service costs [4] - Restructuring charges amounted to $12.2 million in the quarter due to the discontinuation of the reni-cel program and workforce reduction, with no such charges recorded in the previous year [5] Cash Position - As of December 31, 2024, Editas had cash, cash equivalents, and investments totaling $269.9 million, up from $265.1 million as of September 30, 2024 [6] - The company expects its cash reserves to fund operations and capital expenditures into Q2 2027, with estimated total expenses of approximately $45-$55 million covering the termination of the reni-cel program [6] Market Performance - Editas shares have declined by 8.1% over the past three months, compared to a 2.3% decline in the industry [7] Strategic Updates - Editas has no approved products and is focusing on pipeline development, having ended the reni-cel program in December 2024 due to the lack of a commercial partner [10] - The company is prioritizing in vivo pipeline development, with plans to announce an in vivo hematopoietic stem cell development candidate by mid-2025 [12][13] - Editas has demonstrated effective gene editing in hematopoietic stem cells and liver cells, with further data expected by the end of 2025 [13][14] Licensing and Collaborations - In late 2023, Vertex Pharmaceuticals in-licensed rights to Editas' Cas9 gene editing tool for its sickle cell disease gene therapy [8] - Editas received $57 million in upfront cash from the sale of future license fees related to its Cas9 license agreement with Vertex [8]