Editas Medicine posts Q2 net loss of $53.2 mln

Overview

• Editas Q2 net loss at $53.2 mln, missing analyst expectations

• Collaboration and R&D revenues rise significantly due to milestone payments

• Operating expenses decrease following reni-cel program discontinuation

Outlook

• Company plans to file IND by mid-2026

• Company expects cash runway into Q2 2027

Result Drivers

• COLLABORATION REVENUE - Increase in collaboration and R&D revenues driven by milestone payments from Bristol Myers Squibb partnership

• PRECLINICAL DATA - New proof-of-concept data presented for gene upregulation strategy and in vivo delivery platform

• EXPENSE REDUCTION - Decrease in R&D expenses due to discontinuation of reni-cel program

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 7 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the biotechnology & medical research peer group is "buy."

• Wall Street's median 12-month price target for Editas Medicine Inc is $3.50, about 37.1% above its August 11 closing price of $2.20

Press Release: ID:nGNXbDXn8m