Editas Medicine — Third Quarter 2026 Earnings Summary

Financial Performance:

• Net loss for the three months ended September 30, 2026, was $23.4 million ($0.15 per share), compared to a net loss of $25.1 million ($0.28 per share) for the same period in 2025.
• Collaboration and other research and development revenues increased to $10.4 million for the three months ended September 30, 2026, from $7.5 million in the same period in 2025, driven by clinical development milestones achieved by a strategic partner.
• Research and development expenses rose by $1.4 million to $21.2 million for the three months ended September 30, 2026, compared to $19.8 million in 2025, primarily due to higher sublicense/license fees and EDIT-401 development costs, partially offset by lower employee and external R&D costs.
• General and administrative expenses increased by $1.2 million to $13.5 million for the three months ended September 30, 2026, compared to $12.3 million in 2025, attributed to higher intellectual property and patent-related fees from increased legal activity.
• Cash, cash equivalents, and marketable securities totaled $190.2 million as of September 30, 2026, up from $146.6 million as of December 31, 2025.
• Working capital was $130.4 million as of September 30, 2026, compared to $117.6 million as of December 31, 2025.
• Total stockholders' equity increased to $84.5 million as of September 30, 2026, from $27.3 million as of December 31, 2025.
• Deferred revenue was $32.3 million (current) and $4.0 million (non-current) as of September 30, 2026, compared to $0 (current) and $44.5 million (non-current) as of December 31, 2025.

Guidance and Future Outlook:

• The company expects to fund operating expenses and capital expenditure requirements into the second half of 2028 using existing cash resources.
• Patient dosing for the Phase 1/2 Strive study of EDIT-401 is expected to begin in 2026, with initial safety and tolerability data reported in the first quarter of 2027.
• Enrollment in Part 1 of the Strive study is expected to be completed in the second half of 2027, with topline safety and efficacy results available at that time.
• Management anticipates generating additional data in 2027.

Business Segments and Product Lines:

• EDIT-401, an in vivo gene editing medicine for hyperlipidemia, received Human Research Ethics Committee (HREC) approval and completed the Clinical Trial Notification (CTN) process with Australia's Therapeutic Goods Administration (TGA) to initiate the Phase 1/2 Strive study in patients with Heterozygous Familial Hypercholesterolemia (HeFH).
• Preclinical data presented at the American Heart Association (AHA) Scientific Sessions 2026 demonstrated LDL-C reductions of ≥90 percent maintained over 10 months in non-human primates, along with ~90 percent mean Lp(a) and ApoB reductions maintained over three months.
• The EDIT-401 program showed a consistent safety profile with targeted liver delivery, transient liver enzyme elevations, no histopathologic findings, and no evidence of genotoxicity in relevant primary human cells.
• A second IND/CTA was accepted for the CD70 HD Allo CAR T program (BMS-986527) in collaboration with Bristol Myers Squibb, triggering a milestone payment to Editas.
• Preclinical data presented at the 33rd Annual European Society of Gene and Cell Therapy (ESGCT) Congress demonstrated robust in vivo delivery of mRNA to targeted T-cells using the company's targeted lipid nanoparticle (tLNP) extrahepatic delivery platform.
• Dan Ory, M.D., was appointed Chief Medical Officer in September to oversee clinical development strategy and operations.

Market and Competitive Landscape:

• EDIT-401 is positioned as a potentially best-in-class, one-time treatment for hyperlipidemia, targeting an estimated 1.2 million people with HeFH in the United States and over 70 million patients with hyperlipidemia generally.
• The company holds exclusive licensing rights to the Broad Institute's Cas12a patent estate and the Broad Institute and Harvard University's Cas9 patent estates for human medicines.

Risks and Challenges:

• Risks include uncertainties inherent in the initiation, timing, progress, and results of preclinical studies and clinical trials.
• Regulatory submission uncertainties exist regarding whether preclinical results will warrant submissions, whether regulatory agencies will require additional studies, and whether authorities will provide clearance on expected timelines.
• There is a risk that cash resources may be insufficient to fund foreseeable and unforeseeable operating expenses and capital expenditure requirements for the anticipated period.

Management Commentary and Tone:

• CEO Gilmore O'Neill expressed excitement regarding progress on EDIT-401, citing regulatory and ethics approvals and new preclinical durability data as important milestones for patients.
• Management stated they are "backed by this momentum and our strong cash position" and look forward to executing the Strive study.

Other Key Points:

• The company plans to participate in the 9th Annual Evercore Healthcare Conference on November 30, 2026, in Coral Gables, FL.
• The BMS collaboration involves the use of Editas' Cas12a gene editing technology to engineer CAR-T cells for the BMS-986527 therapy, which will be advanced in a Phase 1 study for clear cell renal cell carcinoma.
• The press release includes forward-looking statements regarding the timing of data reporting, regulatory approvals, and cash runway, which are subject to various risks and uncertainties.