Beam Therapeutics Posts Wider-than-expected Q3 Loss; Stock Down In Pre-market

(RTTNews) - Beam Therapeutics Inc. (BEAM) reported Monday that its third-quarter net loss was $109.6 million or $1.56 per share, compared to last year's loss of $28.1 million or $0.42 per share.

On average, 12 analysts polled by Thomson Reuters expected loss of $1.31 per share for the quarter. Analysts' estimates typically exclude special items.

Total other income declined to $9.64 million from $41.52 million a year ago.

License and collaboration revenue was $15.80 million, up from prior year's $763 thousand.

As of September 30, the company's cash, cash equivalents and marketable securities were $1.1 billion, compared to $965.6 million as of December 31, 2021.

In pre-market activity on Nasdaq, Beam shares were losing around 4.2 percent to trade at $41.

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