Beam Therapeutics Q4 Loss Narrows

(RTTNews) - Beam Therapeutics Inc. (BEAM), a biotechnology company developing precision genetic medicines through base editing, reported that its net loss attributable to common stockholders for the fourth quarter of 2022 narrowed to $38.3 million or $0.54 per share from $64.7 million or $0.95 per share in the fourth quarter of 2021. Analysts polled by Thomson Reuters expected the company to report a loss of $1.33 per share. Analysts' estimates typically exclude special items.

License and collaboration revenue was $20.04 million down from $51.07 million in the prior year.

Beam expects that its cash, cash equivalents and marketable securities as of December 31, 2022, will enable the company to fund its anticipated operating expenses and capital expenditure requirements at least into 2025.

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