Second Quarter 2026
Filed Aug 5, 2026Editas Medicine Announces Second Quarter 2026 Results and Business Updates
Second-quarter net loss narrowed to $18.2 million from $53.2 million, supported by higher collaboration revenue and a $1.3 million restructuring and impairment benefit, while EDIT-401 remains preclinical and the company is targeting a CTN submission this month before clinical data updates in 2027.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Collaboration and other research and development revenues, three months ended June 30GAAP | $ 11,890 (amounts in thousands) | – | – |
| Research and development expenses, three months ended June 30GAAP | 20,180 (amounts in thousands) | – | increased by $4.0 million |
| General and administrative expenses, three months ended June 30GAAP | 11,603 (amounts in thousands) | – | decreased by $1.3 million |
| Restructuring and impairment charges, three months ended June 30GAAP | (1,339) (amounts in thousands) | – | decreased by $27.4 million to a $1.3 million benefit |
| Total operating expenses, three months ended June 30GAAP | 30,444 (amounts in thousands) | – | – |
| Operating loss, three months ended June 30GAAP | (18,554) (amounts in thousands) | – | – |
| Interest expense related to sale of future revenues, three months ended June 30GAAP | (1,061) (amounts in thousands) | – | – |
| Interest income, net, three months ended June 30GAAP | 1,368 (amounts in thousands) | – | – |
| Other income (expense), net, three months ended June 30GAAP | 17 (amounts in thousands) | – | – |
| Total other income (expense), net, three months ended June 30GAAP | 324 (amounts in thousands) | – | – |
| Net loss attributable to common stockholders, three months ended June 30GAAP | $18.2 million | – | – |
| Net loss per share, basic and diluted, three months ended June 30GAAP | $0.15 per share | – | – |
| Weighted-average common shares outstanding, basic and diluted, three months ended June 30GAAP | 119,294,615 | – | – |
| Collaboration and other research and development revenues, six months ended June 30GAAP | $ 14,721 (amounts in thousands) | – | – |
| Research and development expenses, six months ended June 30GAAP | 37,780 (amounts in thousands) | – | – |
| General and administrative expenses, six months ended June 30GAAP | 21,837 (amounts in thousands) | – | – |
| Restructuring and impairment charges, six months ended June 30GAAP | (1,339) (amounts in thousands) | – | – |
| Total operating expenses, six months ended June 30GAAP | 58,278 (amounts in thousands) | – | – |
| Operating loss, six months ended June 30GAAP | (43,557) (amounts in thousands) | – | – |
| Interest expense related to sale of future revenues, six months ended June 30GAAP | (2,133) (amounts in thousands) | – | – |
| Interest income, net, six months ended June 30GAAP | 2,574 (amounts in thousands) | – | – |
| Other income (expense), net, six months ended June 30GAAP | (96) (amounts in thousands) | – | – |
| Total other income (expense), net, six months ended June 30GAAP | 345 (amounts in thousands) | – | – |
| Net loss, six months ended June 30GAAP | $ (43,212) (amounts in thousands) | – | – |
| Net loss per share, basic and diluted, six months ended June 30GAAP | $ (0.40) | – | – |
| Weighted-average common shares outstanding, basic and diluted, six months ended June 30GAAP | 108,646,137 | – | – |
This month / first quarter of 2027 / 2027 / second half of 2028 outlook
- NoteOn track to submit a Clinical Trial Notification (CTN) in Australia this month.
- NoteThe Company expects to report a data update in the first quarter of 2027.
- NoteEditas plans to complete enrollment in Part 1, the dose-finding portion of the Phase 1/2 trial of EDIT-401, with topline data results available in 2027.
- NoteThe Company expects that the existing cash and cash equivalents will enable the Company to fund its operating expenses and capital expenditure requirements into the second half of 2028.
What drove it
- Collaboration and other research and development revenue increased primarily due to recognition of deferred revenue related to the expiration of certain rights to opt in to additional research programs under the collaboration with BMS.
- Research and development expenses reflected increased external expenses for ongoing research and preclinical efforts for EDIT-401.
- General and administrative expenses decreased due to lower employee-related expenses and reduced professional services associated with the Reduction and Discontinuation.
- The restructuring and impairment result was a $1.3 million benefit, primarily attributable to favorable adjustments to prior estimated contract costs associated with the Discontinuation upon finalization of contract costs.
- A single dose of EDIT-401 achieved ~90 percent or greater mean reductions in LDL-C, Lp(a), and ApoB in non-human primates, according to the company.
Concerns
- EDIT-401 is progressing toward a planned Phase 1/2 clinical trial; reported efficacy and safety observations were preclinical and in non-human primates.
- The company reported a net loss of $18.2 million for the three months ended June 30, 2026.
- The second-quarter improvement included a $1.3 million restructuring and impairment benefit.
- The release states that research and development expenses increased by $4.0 million to $20.2 million, but subsequently describes the increase as a decrease.
- The company states that regulatory authorities may require additional preclinical studies and that regulatory clearance to initiate trials may not occur on expected timelines or at all.
What to watch
- Submission of the Clinical Trial Notification in Australia this month.
- Initiation of the Phase 1/2 study of EDIT-401 in patients with Heterozygous Familial Hypercholesterolemia.
- EDIT-401 data update expected in the first quarter of 2027.
- Completion of Part 1 enrollment and availability of topline data results in 2027.
- Cash runway expectation into the second half of 2028.
Balance sheet and cash flow
- Cash and cash equivalents as of June 30, 2026, were $211.6 million compared to $146.6 million as of December 31, 2025.
- Working capital: 149,633 (amounts in thousands) as of June 30, 2026, compared to 117,649 (amounts in thousands) as of December 31, 2025.
- Total assets: 237,364 (amounts in thousands) as of June 30, 2026, compared to 186,534 (amounts in thousands) as of December 31, 2025.
- Deferred revenue, net of current portion: 4,000 (amounts in thousands) as of June 30, 2026, compared to 44,509 (amounts in thousands) as of December 31, 2025.
- Total stockholders' equity: 105,281 (amounts in thousands) as of June 30, 2026, compared to 27,288 (amounts in thousands) as of December 31, 2025.
- Cash flow from operations and free cash flow were not reported.
Analysis
Editas reported collaboration and other research and development revenues of $11.9 million for the three months ended June 30, 2026, compared with $3.6 million in the same period in 2025. The company attributed the increase primarily to deferred-revenue recognition following the expiration of certain BMS collaboration opt-in rights. With no commercial-product revenue disclosed, the reported revenue base remains collaboration-related.
Net loss attributable to common stockholders was $18.2 million, or $0.15 per share, compared with a $53.2 million loss, or $0.63 per share, in the prior-year quarter. The operating result included research and development expense of $20.2 million, versus $16.2 million, and general and administrative expense of $11.6 million, versus $12.9 million. A $1.3 million restructuring and impairment benefit, compared with $26.1 million of charges a year earlier, was a significant component of the year-over-year change in operating expenses and loss.
The clinical focus is EDIT-401 for hyperlipidemia. The company reported preclinical non-human-primate data in which a single dose achieved ~90 percent or greater mean reductions in LDL-C, Lp(a), and ApoB, while LDL-C mean reduction of ≥90% was durable through ~6 months. Editas also reported no adverse clinical observations in non-human primates at a single dose of 1.5mg/kg. These are preclinical observations, while the planned human study will evaluate the safety, tolerability, and efficacy of a single dose.
Liquidity increased following the May public offering. Cash and cash equivalents were $211.6 million at June 30, 2026, compared with $146.6 million at December 31, 2025. The offering generated aggregate gross proceeds of $125.0 million before underwriting discounts, commissions, and offering expenses. The company also stated it would receive approximately $194.4 million of additional gross proceeds before those items if all accompanying common stock warrants are exercised at their exercise price.
Management expects existing cash and cash equivalents to fund operating expenses and capital expenditure requirements into the second half of 2028. Near-term execution milestones are a CTN submission in Australia this month, a data update in the first quarter of 2027, and planned completion of Part 1 enrollment with topline data results available in 2027. The release provided no revenue, expense, gross-margin, or tax-rate financial guidance.
Management, verbatim
During the second quarter, we continued preclinical work to support advancing EDIT-401 into a single ascending dose, open-label Phase 1/2 study.
Gilmore O’Neill, M.B., M.M.Sc., President and Chief Executive Officer of Editas Medicine
We also presented new preclinical data demonstrating the ability of a single dose of EDIT-401 to achieve rapid and significant reductions in multiple atherogenic lipoproteins in non-human primates along with a promising preclinical safety profile, reinforcing EDIT-401’s potential as a best-in-class, one-time treatment for hyperlipidemia.
Gilmore O’Neill, M.B., M.M.Sc., President and Chief Executive Officer of Editas Medicine
In addition, with our recent equity financing, we are well capitalized to drive the clinical development of EDIT-401 through key value-creating milestones.
Gilmore O’Neill, M.B., M.M.Sc., President and Chief Executive Officer of Editas Medicine
Not in the filing
stated, not guessed- Gross margin
- Non-GAAP metrics
- Non-GAAP net income or loss
- Non-GAAP EPS
- Operating cash flow
- Free cash flow
- Debt balance
- Dividends
- Share repurchases
- Revenue guidance
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- Tax-rate guidance
- Prior-quarter comparisons
- Previous-release outlook for comparison
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.