Editas Medicine, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 03, 2023 at 07:06 am EDT
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Editas Medicine, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net loss was USD 45.02 million compared to USD 55.73 million a year ago. Basic loss per share from continuing operations was USD 0.55 compared to USD 0.81 a year ago.
For the nine months, net loss was USD 134.35 million compared to USD 159.69 million a year ago. Basic loss per share from continuing operations was USD 1.81 compared to USD 2.33 a year ago.
Editas Medicine, Inc. is a clinical-stage genome editing company. The Company is focused on developing potentially transformative genomic medicines to treat a broad range of serious diseases. It has developed a proprietary gene editing platform based on CRISPR technology. CRISPR uses a protein- ribonucleic acid (RNA) complex composed of an enzyme, including either CRISPR associated protein 9 (Cas9) or Cas12a (CRISPR from Prevotella and Francisella 1, also known as Cpf1), bound to a guide ribonucleic acid (RNA) molecule designed to recognize a particular deoxyribonucleic acid (DNA) sequence. It is engaged in the development of vivo administered gene editing medicines, in which the medicine is injected or infused into the patient to edit the cells inside their body. Its lead program, reni-cel, is an experimental ex vivo gene-edited medicine to treat sickle cell disease (SCD), a severe inherited blood disease that causes premature death, and transfusion-dependent beta thalassemia (TDT).