Beam Therapeutics Q2 Loss Widens But Beats Estimates

(RTTNews) - Beam Therapeutics Inc. (BEAM) on Monday reported higher loss for the second quarter that reflected higher R&D expenses. However, revenue improved from last year. The results also beat market expectations.

Quarterly net loss widened to $82.78 million or $1.08 loss per share from $71.95 million or $1.02 loss last year.

On average, 13 analysts polled by Thomson Reuters expected the company to report a loss of $1.42 per share for the quarter. Analysts' estimates typically exclude one-time items.

Comprehensive loss widened to $84.03 million from $73.43 million of the previous year.

Revenue however, increased to $20.11 million from $16.65 million for the same period, last year. The Street estimate for revenue was $18.05 million

In pre-market activity, shares of Beam Therapeutics are trading at $25.18, down 1.41% on Nasdaq.