Beam Therapeutics reported a second quarter net loss of $122.7 million, or $1.18 per share, on collaboration revenue of $0.5 million. The company highlighted significant clinical progress, including dosing the first patient in its BEAM-302 pivotal trial, and ended the quarter with $1.2 billion in cash, extending its operational runway into mid-2029.
Key Highlights
- Dosed the first patient in the global pivotal cohort trial evaluating BEAM-302 in patients with Alpha-1 Antitrypsin Deficiency (AATD).
- Completed dosing for all patients in the Phase 1/2 BEACON trial of risto-cel for Sickle Cell Disease, with a Biologics License Application (BLA) submission planned for as early as year-end 2026.
- Ended the second quarter with $1.2 billion in cash, cash equivalents, and marketable securities, providing an expected cash runway into mid-2029.
- Research and Development (R&D) expenses decreased to $95.1 million from $101.8 million in the prior-year quarter.