Editas Medicine Q3 net loss narrows

Overview

• US gene editing firm's Q3 net loss narrowed and was below analyst estimates

• Collaboration and other R&D revenue rose yr/yr, driven by milestone payments from a partner

• Company ended Q3 with $190.2 mln in cash and marketable securities, cash runway into H2 2028

Outlook

• Company expects to begin patient dosing in Strive study in 2026

• Editas expects initial safety and tolerability data from Strive study in Q1 2027

• Company anticipates topline safety and efficacy results from Strive study Part 1 in H2 2027

Result Drivers

• MILESTONE PAYMENTS - Collaboration and other R&D revenue rose due to milestone payments from a strategic partner

• EDIT-401 DEVELOPMENT COSTS - Higher R&D expenses were mainly due to increased costs tied to EDIT-401 development and higher sublicense and license fees

• PATENT-RELATED FEES - G&A expenses increased mainly due to higher intellectual property and patent-related legal costs

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 2 "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 $5.50, about 114% above its November 6 closing price of $2.57

Reuters Recommended Reads

• Nov 6 - Aligos Therapeutics Q3 net loss narrows on lower R&D costs

• Nov 6 - CG Oncology Q3 net loss widens on higher R&D costs

• Nov 6 - UK's Immunocore Q3 loss misses estimates on higher R&D spending

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)