Beam Therapeutics Inc

Latest Results (07.01.2025):

Cash Position

Beam Therapeutics Inc reported a cash position of $1.2 billion in cash, cash equivalents, and marketable securities as of December 31, 2023. This is an increase from $1.1 billion as of December 31, 2022, indicating a strong financial position at the end of the fourth quarter of 2023.

Research and Development Expenses

For the fourth quarter of 2023, Beam Therapeutics Inc's research and development expenses were $140.1 million, contributing to a total of $437.4 million for the full year. This represents a significant increase from the $86.3 million spent in the fourth quarter of 2022 and $311.6 million for the full year of 2022, reflecting the company's continued investment in its pipeline.

General and Administrative Expenses

Beam Therapeutics Inc reported general and administrative expenses of $43.3 million for the fourth quarter of 2023, with a total of $116.8 million for the year. This is up from $22.7 million in the fourth quarter of 2022 and $87.8 million for the full year of 2022, indicating increased operational activities and expansion efforts.

Net Income (Loss)

The company achieved a net income of $142.8 million for the fourth quarter of 2023, translating to $1.77 per basic share and $1.73 per diluted share. However, for the full year ended December 31, 2023, Beam Therapeutics Inc reported a net loss of $132.5 million, or $1.72 per share, showing an improvement from the net loss of $289.1 million, or $4.13 per share, in 2022.

Cash Runway

Beam Therapeutics Inc expects its cash, cash equivalents, and marketable securities as of December 31, 2023, to support its operating expenses and capital expenditure requirements into 2027. This projection includes funding for key milestones in its BEAM-101, ESCAPE, BEAM-301, and BEAM-302 programs, as well as continued investments in platform advancements and manufacturing capabilities.