Editas Medicine (EDIT) Misses Q1 EPS by 13c, Revenues Beat

Editas Medicine (NASDAQ: EDIT) reported Q1 EPS of ($0.86), $0.13 worse than the analyst estimate of ($0.73). Revenue for the quarter came in at $6.5 million versus the consensus estimate of $5.77 million.

“Our team is making tremendous progress towards discovering, developing, and manufacturing novel genome editing medicines, including excellent forward momentum this quarter for our two clinical-stage medicines,” said James C. Mullen, Chairman, President and Chief Executive Officer, Editas Medicine. “We are pleased to announce Dr. Mark Shearman will be joining Editas as Chief Scientific Officer in June 2021. Mark has an outstanding track record of drug discovery and development, and we are confident that his expertise will help us achieve our near-term milestones and continue to realize the promise of bringing transformative medicines to patients.”

Mr. Mullen continued, “In ocular, we advanced the BRILLIANCE trial of EDIT-101 for LCA10 and have line of sight for initiating the next cohort. We also presented preclinical data at ARVO that further validates our in vivo gene editing platform in USH2A and RP4. In ex vivo, we advanced the RUBY trial of EDIT-301 for sickle cell disease, including activating sites for recruitment and finalizing preparations to produce study drug material for dosing patients in the trial. We look forward to maintaining the momentum through the remainder of the year and expect to share Editas’ first clinical data for EDIT-101 by year-end.”

For earnings history and earnings-related data on Editas Medicine (EDIT) click here.

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