NASDAQ$EDIT
Editas Medicine Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported a net loss with ongoing progress in clinical trials and preclinical development.
Editas Medicine reported a net loss of $67.6 million for the second quarter of 2024. The company is focused on advancing its reni-cel program and in vivo medicines, with key milestones expected by year-end. They have a strong financial position with a cash runway into 2026.
- On track to present additional clinical data from the RUBY trial and the EdiTHAL trial by year-end.
- Completed enrollment of the adolescent cohort of the Phase 1/2/3 RUBY trial for SCD.
- Continue to dose adult patients in the RUBY trial and completed enrollment of the adult cohort.
- On-track to establish in vivo preclinical proof-of-concept for an undisclosed indication by year-end.
Headline financials
Revenue & EPS history
Editas · Revenue · Quarterly
$513K
Revenue by segment
Editas · $5.34M total across 1 segment · Q3 2023
- Collaboration & R&D$5.34M+12604.8%100.0%
Forward guidance
Editas Medicine anticipates presenting additional clinical data from the RUBY and EdiTHAL trials by year-end 2024 and expects existing cash, cash equivalents, and marketable securities, together with near-term annual license fees and contingent upfront payment, to fund operating expenses and capital expenditures into 2026.
Tailwinds
- Presentation of substantive clinical data set of sickle cell patients with considerable clinical follow-up in the RUBY trial by year-end 2024.
- Completion of enrollment of the adolescent cohort of the Phase 1/2/3 RUBY trial for SCD.
- Manufacturing drug product for the initial adolescent cohort patients.
- Continued dosing of adult patients in the RUBY trial, with completed enrollment of the adult cohort.
- Presentation of additional clinical data from the EdiTHAL trial by year-end 2024.
Headwinds
- Uncertainties inherent in the initiation and completion of pre-clinical studies and clinical trials.
- Availability and timing of results from pre-clinical studies and clinical trials.
- Risk that interim results from a clinical trial will not be predictive of the final results of the trial or the results of future trials.
- Expectations for regulatory approvals to conduct trials or to market products.
- Availability of funding sufficient for the Company’s foreseeable and unforeseeable operating expenses and capital expenditure requirements.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
+4.5%
Avg return
Earnings day
+4.4%
Avg return
5 days after
+2.0%
Avg return
30 days after
71%
29 / 41 earnings
Positive
+29.4%
Q2 2021
Best reaction
-11.8%
Q4 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.3% | +3.7% | -0.7% | |
| Q4 2025 | +15.5% | +22.0% | +38.0% | |
| Q3 2025 | +1.4% | +5.3% | +5.3% | |
| Q1 2025 | -2.7% | -1.9% | +41.6% | |
| Q4 2024 | +16.5% | -11.4% | -41.5% | |
| Q3 2024 | +7.2% | +7.2% | -31.6% | |
| Q2 2024 | -10.0% | -16.2% | -23.3% | |
| Q1 2024 | -2.1% | +0.5% | -6.7% | |
| Q4 2023 | +13.5% | +12.0% | -16.3% | |
| Q3 2023 | +18.2% | +19.5% | +53.2% | |
| Q2 2023 | +7.6% | -2.5% | +5.0% | |
| Q1 2023 | +10.3% | +14.6% | +10.9% | |
| Q4 2022 | +2.3% | -1.5% | -18.7% | |
| Q3 2022 | -8.5% | -13.4% | -19.6% | |
| Q2 2022 | +16.2% | +16.1% | -10.0% | |
| Q1 2022 | +2.7% | -21.7% | -16.0% | |
| Q4 2021 | +17.3% | +21.4% | +30.2% | |
| Q3 2021 | +8.2% | +1.1% | -14.9% | |
| Q2 2021 | +29.4% | +37.9% | +62.1% | |
| Q1 2021 | -0.9% | -9.7% | -2.9% | |
| Q4 2020 | -11.8% | -8.1% | -18.6% | |
| Q3 2020 | +0.1% | -1.9% | +13.3% | |
| Q2 2020 | +6.8% | +5.2% | -6.2% | |
| Q1 2020 | -1.2% | +1.9% | +6.6% | |
| Q4 2019 | -6.7% | +1.1% | -11.2% | |
| Q3 2019 | +12.8% | +12.1% | +47.8% | |
| Q2 2019 | +2.4% | +3.8% | +1.1% | |
| Q1 2019 | -2.8% | -5.5% | -20.4% | |
| Q4 2018 | +12.8% | +12.8% | +16.7% | |
| Q3 2018 | +10.7% | +4.1% | +4.8% | |
| Q2 2018 | +0.5% | +3.3% | +11.6% | |
| Q1 2018 | +1.0% | +2.4% | +13.2% | |
| Q4 2017 | +9.9% | +14.6% | -14.5% | |
| Q3 2017 | -6.9% | +1.5% | +7.3% | |
| Q2 2017 | +4.6% | +22.8% | +6.5% | |
| Q1 2017 | -5.1% | -7.2% | -17.1% | |
| Q4 2016 | +4.4% | +19.2% | +0.8% | |
| Q3 2016 | +5.1% | +23.6% | +19.4% | |
| Q2 2016 | -9.3% | -15.1% | -27.4% | |
| Q1 2016 | +7.0% | — | — | |
| Q4 2015 | +5.9% | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — | |
| Q1 2015 | — | — | — | |
| Q4 2014 | — | — | — | |
| Q3 2014 | — | — | — | |
| Q2 2014 | — | — | — | |
| Q1 2014 | — | — | — |
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