Beam says Chinese firm, Serapha stole trade secrets (BEAM)

Beam Therapeutics (BEAM) reported early clinical data for BEAM-301 in GSD1a patients, with two of three showing improved fasting tolerance. The company noted an acceptable safety profile and plans to evaluate a 60 mg cohort. Beam also advanced its BEAM-304 program for PKU and reiterated progress in sickle cell disease and alpha-1 antitrypsin deficiency programs.

Beam Therapeutics Inc. (BEAM) reported initial data from its Phase 1/2 trial of BEAM-301 for glycogen storage disease type Ia. Two patients in the 40 mg cohort achieved 15 hours of controlled fasting. All patients experienced adverse events, with four having serious events. The company plans to engage with the FDA regarding a potential approval pathway.

HC Wainwright & Co. reiterated a Buy rating on Beam Therapeutics with an $80 price target, implying a 238.3% upside from the Oct 14 close of $23.65. The rating is based on positive Phase 1/2 trial results for BEAM-301, showing efficacy in treating glycogen storage disease type 1a, and confidence in the company's liver-directed delivery platform.

Beam Therapeutics (BEAM) reported early Phase 1/2 trial data for BEAM-301, a gene therapy for GSDIa, showing dose-dependent improvements in fasting hypoglycemia and reduced starch intake. The trial enrolled six patients, with median follow-up of 313 days for the 20 mg cohort and 53 days for the 40 mg cohort. All patients experienced adverse events, but no serious safety concerns were reported. The company will discuss the data at an investor event on October 27.

Wandercraft acquired Ekso Bionics to form a global medical exoskeleton company. Automation Anywhere agreed to buy Boost.ai for conversational AI. Beam Global will acquire ScoutDI for $24M to expand drone tech. Altaris completed a $600M deal for Clarivate's healthcare business.

Beam Therapeutics sued former scientist Emma Wang, alleging she stole trade secrets to found Chinese startup YolTech, which is developing a rival treatment for AATD. Beam claims Wang used stolen information to file patents while still employed. YolTech later licensed its treatment to Serapha.