Beam Therapeutics Q2 net loss widens more than expected
Overview
Beam Q2 net loss of $102.3 mln misses analyst expectations, per LSEG data
Operating income for Q2 misses estimates, pretax profit beats, per LSEG data
Beam ends Q2 with $1.2 bln cash, supporting operations into 2028
Outlook
Beam expects BEAM-302 trial data in early 2026
Company plans to present BEACON trial data by end of 2025
Beam plans Phase 1 trial for BEAM-103 by end of 2025
Company expects cash reserves to support operations into 2028
Result Drivers
COSTS - R&D costs increase but General & Administrative (G&A) expenses decline
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 License and Collaboration Revenue | $8.47 mln | ||
Q2 Net Income | Miss | -$102.29 mln | -$95.40 mln (11 Analysts) |
Q2 Operating Income | Miss | -$120.15 mln | -$104.80 mln (11 Analysts) |
Q2 Pretax Profit | Beat | -$102.29 mln | -$104.90 mln (10 Analysts) |
Q2 Operating Expenses | $128.62 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 3 "hold" and no "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 Beam Therapeutics Inc is $41.00, about 53.4% above its August 4 closing price of $19.12
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