EDIT - Editas Medicine up 13% following Q2 2022 top and bottom line beats as net loss narrows
- Editas Medicine ( NASDAQ: EDIT ) is up 13% in Wednesday morning trading after beating analyst estimates on both Q2 2022 EPS and revenue .
- The genome editing company saw its net loss narrow 3% year over year to ~$53.5M (-$0.78 per share basic and diluted vs. -$0.81).
- Overall operating expenses of $60.6M in the quarter was a ~9% increase from Q2 2021.
- Editas ( EDIT ) ended the quarter with $527.6M, compared to $566.4M on March 31, 2022. The company expects its cash on hand will be able to fund operations through 2024.
- In the pipeline, Editas ( EDIT ) expects a data update for EDIT-101 in Leber Congenital Amaurosis 10 (LCA10) in this half of the year. Also, the company is on schedule to begin IND-enabling studies of EDIT-103 for Rhodopsin-Associated Autosomal Dominant Retinitis Pigmentosa (RHO-adRP) by the end of the year.
- Seeking Alpha's Quant Rating views Editas Medicine ( EDIT ) as a hold with a strong grade for revisions .
For further details see:
Editas Medicine up 13% following Q2 2022 top and bottom line beats as net loss narrows