Entrada Therapeutics Inc · Q3 2024 earnings

Briefing

Entrada Therapeutics reported financial results for the third quarter ended September 30, 2024 and highlighted recent business updates.

Entrada Therapeutics reported a net loss of $14.0 million for Q3 2024, compared to a net income of $35.5 million for the same period in 2023. Cash, cash equivalents, and marketable securities were $449.3 million as of September 30, 2024, expected to fund operations into 2027. Collaboration revenue was $19.6 million, and R&D expenses were $31.3 million.

• Presented additional data from the Phase 1 clinical trial ENTR-601-44-101 and new preclinical data supporting ENTR-601-45 for DMD at 2024 World Muscle Society Annual Congress.
• On track to submit global regulatory filings for planned Phase 2 clinical trials for both ENTR-601-44 and ENTR-601-45 in Q4 2024.
• Vertex announced the completion of the single ascending dose (SAD) and the initiation of the multiple ascending dose (MAD) portions of global Phase 1/2 clinical trial for partnered program VX-670 in people with DM1.
• Cash runway expected into 2027 with $449.3 million in cash, cash equivalents and marketable securities as of September 30, 2024.

Headline financials

Revenue & EPS history

Entrada anticipates that subsequent events and developments will cause its views to change and specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Entrada’s views as of any date subsequent to the date of this press release.