Editas Medicine Announces Third Quarter 2022 Results and Business Updates - Yahoo Finance

Dosed 2nd diligent with EDIT-301 successful the Phase 1/2 RUBY proceedings for sickle compartment disease

On way to denote archetypal preliminary objective information from RUBY proceedings by year-end

Completed compartment editing and presently scheduling archetypal diligent dosing with EDIT-301 successful Phase 1/2 EDITHAL proceedings for TDT

Company to supply a objective update connected the Phase 1/2 BRILLIANCE proceedings for EDIT-101 this month

CAMBRIDGE, Mass., Nov. 02, 2022 (GLOBE NEWSWIRE) -- Editas Medicine, Inc. (Nasdaq: EDIT), a objective signifier genome editing company, contiguous reported concern highlights and fiscal results for the 3rd 4th of 2022.

“I americium pleased with our continued progress, and I look guardant to providing objective updates connected EDIT-101 and EDIT-301 successful the adjacent 2 months,” commented Gilmore O’Neill, M.B., M.M.Sc., President and Chief Executive Officer, Editas Medicine. “We are focused connected positioning and advancing our portfolio towards our extremity of bringing differentiated medicines to radical surviving with superior diseases.”

Recent Achievements and Outlook

Ex Vivo Medicines

• EDIT-301 for Sickle Cell Disease
  Second diligent dosed successful RUBY trial; connected way to supply archetypal objective information by year-end

  • Editas Medicine has dosed the 2nd diligent and continues to enroll survey participants successful the Phase 1/2 RUBY proceedings for the attraction of terrible sickle compartment disease.

  • The Company remains connected way to contiguous archetypal preliminary objective information for the RUBY survey by year-end.

• EDIT-301 for Transfusion-Dependent Beta Thalassemia (TDT)
  First diligent apheresis and editing completed

  • The Company has completed editing CD34+ hematopoietic stem cells for the archetypal enrolled diligent successful the Phase 1/2 EDITHAL proceedings for TDT and is scheduling dosing.
    

In Vivo Medicines

• EDIT-101 for Leber Congenital Amaurosis 10 (LCA10)
  BRILLIANCE objective update to beryllium provided this month

  • The Company remains connected way to supply an update connected the Phase 1/2 BRILLIANCE objective proceedings this month, including information and efficacy data.
    

• EDIT-103 for Rhodopsin-Associated Autosomal Dominant Retinitis Pigmentosa (RHO-adRP)
  Presented preclinical information astatine ESGCT
  

  • In October, Editas Medicine presented preclinical information during an oral presumption astatine the European Society of Gene and Cell Therapy (ESGCT) Annual Meeting.
    

  • The information demonstrated astir 100% cistron editing knockout of the endogenous RHO gene, with the replacement RHO cistron producing implicit 30% of mean RHO macromolecule levels successful the treated country of subretinal injection successful non-human primates treated with EDIT-103.
    

Cellular Therapies

• EDIT-202 Multiplexed iNK for Solid Tumors
  Presented caller preclinical information astatine ESGCT

  • In October, the Company presented new preclinical information successful a poster presumption astatine the ESGCT Annual Meeting. EDIT-202 is an engineered iNK compartment product, presently successful preclinical development, that combines Editas Medicine’s proprietary AsCas12a enzyme and SLEEK™ cistron editing technology, and seeks to code the unmet request for treating coagulated tumors.

  • The information demonstrated prolonged persistence, precocious cytotoxicity, and enhanced in vivo power of coagulated tumors.
    

Third Quarter 2022 Financial Results

• Cash, currency equivalents, and marketable securities arsenic of September 30, 2022, were $478.5 million, compared to $527.6 cardinal arsenic of June 30, 2022. The Company expects that its existing cash, currency equivalents and marketable securities volition alteration it to money its operating expenses and superior expenditures into 2024.

• For the 3 months ended September 30, 2022, nett nonaccomplishment attributable to communal stockholders was $55.7 million, oregon $0.81 per share, compared to nett nonaccomplishment of $39.1 million, oregon $0.57 per share, for the aforesaid play successful 2021.

• Collaboration and different probe and improvement revenues were $42 1000 for the 3 months ended September 30, 2022, compared to $6.2 cardinal for the aforesaid play successful 2021. The 2021 play included gross recognized for an opt-in by Bristol Myers Squibb (BMS) nether the Company’s collaboration with BMS; determination was nary corresponding gross successful the 3rd 4th of 2022.

• Research and improvement expenses were $41.3 cardinal for the 3 months ended September 30, 2022, compared to $29.3 cardinal for the aforesaid play successful 2021. The summation was chiefly driven by accrued manufacturing expenses, arsenic good arsenic objective proceedings costs.

• General and administrative expenses were level astatine $16.2 cardinal for the 3 months ended September 30, 2022, compared to the aforesaid play successful 2021.

Editas Medicine plans to enactment successful the pursuing technological and aesculapian conferences:

• Society for Immunotherapy of Cancer (SITC) 37^th Annual Meeting
  November 8-12, 2022 - Boston, MA

• American Society for Hematology (ASH) 64^th Annual Meeting
  December 10-13, 2022 - New Orleans, LA

Editas Medicine plans to enactment successful the pursuing capitalist events:

• 5^th Annual Evercore ISI HealthCONx Conference
  November 29, 2022 - Virtual

Conference Call
The Editas Medicine absorption squad volition big a league telephone and webcast contiguous astatine 8:00 a.m. ET to supply and sermon a firm update and fiscal results for the 3rd 4th of 2022. To entree the call, delight dial 877-407-0989 (domestic) oregon 201-389-0921 (international) and inquire for the Editas Medicine net call. A unrecorded webcast of the telephone volition besides beryllium disposable connected the Investors conception of the Editas Medicine website astatine www.editasmedicine.com, and a replay volition beryllium disposable astir 2 hours aft its completion.

About Editas Medicine
As a objective signifier genome editing company, Editas Medicine is focused connected translating the powerfulness and imaginable of the CRISPR/Cas9 and CRISPR/Cas12a genome editing systems into a robust pipeline of treatments for radical surviving with superior diseases astir the world. Editas Medicine aims to discover, develop, manufacture, and commercialize transformative, durable, precision genomic medicines for a wide people of diseases. Editas Medicine is the exclusive licensee of Broad Institute’s and Harvard University’s Cas9 patent estates and Broad Institute’s Cas12a patent property for quality medicines. For the latest accusation and technological presentations, delight sojourn www.editasmedicine.com.

Forward-Looking Statements
This property merchandise contains forward-looking statements and accusation wrong the meaning of The Private Securities Litigation Reform Act of 1995. The words ‘‘anticipate,’’ ‘‘believe,’’ ‘‘continue,’’ ‘‘could,’’ ‘‘estimate,’’ ‘‘expect,’’ ‘‘intend,’’ ‘‘may,’’ ‘‘plan,’’ ‘‘potential,’’ ‘‘predict,’’ ‘‘project,’’ ‘‘target,’’ ‘‘should,’’ ‘‘would,’’ and akin expressions are intended to place forward-looking statements, though not each forward-looking statements incorporate these identifying words. Forward-looking statements successful this property merchandise see statements regarding the initiation, timing, advancement and results of the Company’s preclinical and objective studies and its probe and improvement programs, the timing for the Company’s receipt and presumption of information from its objective trials and preclinical studies, including archetypal preliminary objective information from the RUBY proceedings by year-end 2022 and a objective update connected the BRILLIANCE proceedings successful November 2022, imaginable of, and expectations for, the Company’s merchandise candidates, the timing oregon likelihood of regulatory filings and approvals, and the Company’s expectations regarding currency runway. The Company whitethorn not really execute the plans, intentions, oregon expectations disclosed successful these forward-looking statements, and you should not spot undue reliance connected these forward-looking statements. Actual results oregon events could disagree materially from the plans, intentions and expectations disclosed successful these forward-looking statements arsenic a effect of assorted important factors, including: uncertainties inherent successful the initiation and completion of pre-clinical studies and objective trials, including the BRILLIANCE, RUBY and EDITHAL trials, and objective improvement of the Company’s merchandise candidates; availability and timing of results from pre-clinical studies and objective trials; whether interim results from a objective proceedings volition beryllium predictive of the last results of the proceedings oregon the results of aboriginal trials; expectations for regulatory approvals to behaviour trials oregon to marketplace products and availability of backing capable for the Company’s foreseeable and unforeseeable operating expenses and superior expenditure requirements. These and different risks are described successful greater item nether the caption “Risk Factors” included successful the Company’s astir caller Annual Report connected Form 10-K, which is connected record with the Securities and Exchange Commission, arsenic updated by the Company’s consequent filings with the Securities and Exchange Commission, and successful different filings that the Company whitethorn marque with the Securities and Exchange Commission successful the future. Any forward-looking statements contained successful this property merchandise correspond Company’s views lone arsenic of the day hereof and should not beryllium relied upon arsenic representing its views arsenic of immoderate consequent date. Except arsenic required by law, the Company explicitly disclaims immoderate work to update immoderate forward-looking statements.

EDITAS MEDICINE, INC.
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Media Contact:
Cristi Barnett
(617) 401-0113
cristi.barnett@editasmed.com

Investor Contact:
Ron Moldaver
(617) 401-9052
ir@editasmed.com