NASDAQ$TRDA
Entrada Therapeutics Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Entrada Therapeutics reported financial results for Q1 2024 and provided business updates.
Entrada Therapeutics reported a net income of $23.5 million for the first quarter of 2024, a significant increase compared to the net loss of $6.7 million for the same period in 2023. The company's cash, cash equivalents, and marketable securities totaled $327.4 million as of March 31, 2024, and they anticipate their cash runway will extend through the second quarter of 2026.
- Initiated dosing of the fourth and final cohort of Phase 1 clinical trial of ENTR-601-44 for DMD, with data readout expected in October 2024.
- Achieved a $75 million milestone payment from Vertex for the clinical advancement of VX-670 for DM1.
- Cash runway expected through the second quarter of 2026, with $327.4 million in cash, cash equivalents, and marketable securities as of March 31, 2024.
- On track to submit regulatory applications in the fourth quarter of 2024 to initiate independent global Phase 2 clinical development studies for ENTR-601-44 and ENTR-601-45.
Headline financials
Revenue & EPS history
Entrada Therapeutics · Revenue · Quarterly
$59.1M
Revenue by segment
Entrada Therapeutics · $43.7M total across 1 segment · Q3 2023
- Collaboration revenue$43.7M—100.0%
Forward guidance
Entrada anticipates that its cash, cash equivalents and marketable securities as of March 31, 2024, together with ongoing research support from Vertex and the clinical advancement milestone expected to be received in the second quarter of 2024, will be sufficient to extend its cash runway through the second quarter of 2026, supporting the Company's expansion and continued development of EEV therapeutic candidates targeting DMD and advance EEV-therapeutic candidates in indications beyond neuromuscular disease.
Tailwinds
- Cash runway extended through the second quarter of 2026.
- Ongoing research support from Vertex.
- Clinical advancement milestone expected in Q2 2024.
- Continued development of EEV therapeutic candidates targeting DMD.
- Advancement of EEV-therapeutic candidates in indications beyond neuromuscular disease.
Headwinds
- Uncertainties inherent in the identification and development of product candidates.
- Uncertainties as to the availability and timing of results from preclinical studies and clinical trials.
- The timing of and Entrada’s ability to submit and obtain regulatory clearance for IND or equivalent foreign applications and initiate or complete clinical trials.
- Whether results from preclinical studies will be predictive of the results of later preclinical studies and clinical trials.
- Whether Entrada’s cash resources will be sufficient to fund 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 17 quarterly earnings reports · overlaid with Q1 2024
-0.8%
Avg return
Earnings day
-0.8%
Avg return
5 days after
-4.5%
Avg return
30 days after
50%
11 / 22 earnings
Positive
+16.0%
Q4 2021
Best reaction
-57.1%
Q1 2026
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -57.1% | -55.7% | -60.3% | |
| Q4 2025 | +6.5% | -1.1% | -0.4% | |
| Q3 2025 | -2.2% | +1.9% | +49.9% | |
| Q1 2025 | -0.2% | -5.3% | -6.5% | |
| Q4 2024 | -0.3% | -8.6% | -20.5% | |
| Q3 2024 | +5.0% | +11.5% | +14.4% | |
| Q2 2024 | +11.3% | +16.3% | +4.6% | |
| Q1 2024 | +4.1% | +6.2% | +17.0% | |
| Q4 2023 | +5.4% | +7.2% | +11.8% | |
| Q3 2023 | +7.9% | +6.3% | -14.6% | |
| Q2 2023 | +9.8% | +17.7% | +5.0% | |
| Q1 2023 | -0.3% | +5.0% | +22.6% | |
| Q4 2022 | +1.4% | +14.5% | +31.4% | |
| Q3 2022 | -12.9% | -13.7% | -19.6% | |
| Q2 2022 | +0.2% | -1.7% | +18.3% | |
| Q1 2022 | +4.9% | +8.5% | +67.5% | |
| Q4 2021 | +16.0% | +20.4% | -1.0% | |
| Q4 2020 | -3.6% | -9.3% | -43.6% | |
| Q3 2020 | -3.6% | -9.3% | -43.6% | |
| Q2 2021 | -3.6% | -9.3% | -43.6% | |
| Q3 2021 | -3.6% | -9.3% | -43.6% | |
| Q1 2021 | -3.6% | -9.3% | -43.6% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro