Beam Therapeutics Posts Wider Loss In Q1

(RTTNews) - Beam Therapeutics Inc. (BEAM) reported a net loss of $96.5 million for the first quarter of 2023, or $1.33 per share, compared to a loss of $69.2 million for the first quarter of 2022, or $1.01 per share. On average, 13 analysts polled by Thomson Reuters expected the company to report a loss per share of $1.34, for the quarter. Analysts' estimates typically exclude special items.

License and collaboration revenue increased to $24.21 million from $8.43 million, previous year. Analysts on average had estimated $14.08 million in revenue.

Cash, cash equivalents and marketable securities were $1.1 billion as of March 31, 2023. Beam expects that its cash, cash equivalents and marketable securities as of March 31, 2023, will enable the company to fund its anticipated operating expenses and capital expenditure requirements at least into 2025.

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