Beam Therapeutics Inc (NASDAQ:BEAM) Q3 2024 Earnings Conference Call November 5, 2024 8:30 AM ET Company Participants Holly Manning - Vice President of Investor Relations & External Communications John Evans - Chief Executive Officer Giuseppe Ciaramella - President Amy Simon - Chief Medical Officer Conference Call Participants Gena Wang - Barclays Dae Gon Ha - Stifel Eric Joseph - JPMorgan Kostas Biliouris - BMO Capital Markets Samantha Semenkow - Citi Sami Corwin - William Blair Luca Issi - RBC Capital Mic ...

Clinical Trials and Programs - BEAM-101 Phase 1/2 clinical trial for sickle cell disease has enrolled 35 patients, with 8 dosed and 7 expected to present additional data at ASH[81][82] - BEAM-101 demonstrated rapid and robust HbF induction (>60%) and HbS reduction (≤36%) in non-transfused blood for patients with at least one month of follow-up[81] - ESCAPE program aims to reduce toxicity in HSCT with BEAM-103 and BEAM-104, with Phase 1-enabling preclinical studies anticipated by end of 2024[83] - Preclinical data for ESCAPE in non-human primates showed robust long-term engraftment and high HbF expression, with additional data expected at ASH[83] - BEAM-302 Phase 1/2 trial for AATD has completed dosing of the first cohort, with initial clinical data expected in 2025[86] - BEAM-201 Phase 1/2 trial for T-cell malignancies showed complete responses in 2 of 3 patients at CAR-T cell doses >200 million, with additional data expected at ASH[90] Collaborations and Partnerships - The company entered into a four-year research collaboration with Pfizer in December 2021, focusing on in vivo base editing programs for three targets related to rare genetic diseases of the liver, muscle, and central nervous system[93] - Under the Pfizer collaboration, the company has the right to opt into a global co-development and co-commercialization agreement for one program, sharing net profits and costs with Pfizer in a 35%/65% ratio[93] - In October 2023, the company received a $200.0 million payment from Eli Lilly and is eligible for up to $350.0 million in future development-stage payments under the Lilly Agreement[95] - The company sold 2,004,811 shares of common stock to Eli Lilly at $24.94 per share, totaling approximately $50 million, representing a 15% premium to the 30-day volume-weighted average price[96] Financial Performance and Expenses - The company's net losses for the nine months ended September 30, 2024, were $286.4 million, compared to $275.3 million for the same period in 2023[102] - As of September 30, 2024, the company had an accumulated deficit of $1.5 billion[102] - The company recognized $33.5 million in license and collaboration revenue for the nine months ended September 30, 2024, compared to $61.5 million for the same period in 2023[103] - The company expects research and development expenses to increase substantially as it advances programs through preclinical and clinical development[106] - The company anticipates increased general and administrative expenses to support expanded research and development activities and public company compliance costs[107] - License and collaboration revenue decreased by $2.9 million to $14.3 million in Q3 2024 compared to $17.2 million in Q3 2023, driven by lower research activities[109] - Research and development expenses decreased by $5.8 million to $94.3 million in Q3 2024, primarily due to a $7.0 million reduction in external R&D expenses and a $2.3 million decrease in employee-related costs[110] - General and administrative expenses increased by $1.1 million to $26.5 million in Q3 2024, mainly due to a $1.7 million rise in employee-related costs and a $0.6 million increase in stock-based compensation[112] - Net loss for Q3 2024 was $96.7 million, slightly higher than the $96.1 million loss in Q3 2023[109] - License and collaboration revenue for the nine months ended September 30, 2024, was $33.5 million, down $28.1 million from $61.5 million in the same period in 2023[113] - Research and development expenses for the nine months ended September 30, 2024, decreased by $31.2 million to $266.1 million, driven by a $35.8 million reduction in external R&D expenses[114] - General and administrative expenses for the nine months ended September 30, 2024, increased by $9.3 million to $82.9 million, primarily due to a $4.6 million rise in stock-based compensation and a $3.5 million increase in personnel-related expenses[115] - Net loss for the nine months ended September 30, 2024, was $286.4 million, compared to $275.3 million in the same period in 2023[113] - Interest and other income for the nine months ended September 30, 2024, increased by $3.6 million to $38.2 million, driven by higher market rates[116] - The fair value of non-controlling equity investments resulted in a $13.0 million expense for the nine months ended September 30, 2024, compared to a $17.9 million expense in the same period in 2023[116] Revenue and Funding - The company's revenue to date has been primarily derived from license and collaboration agreements, with no revenue from product sales expected in the near future[103] - Company has not generated any revenue from product sales since inception in January 2017 and expects significant operating losses for the foreseeable future[117] - Company sold 10,860,992 shares of common stock under amended Sales Agreement at an average price of $51.93 per share for aggregate gross proceeds of $564.0 million[117] - Company received $200.0 million upfront payment from Lilly Agreement and is eligible for up to $350.0 million in potential future development-stage payments[117] - Company had $925.8 million in cash, cash equivalents, and marketable securities as of September 30, 2024[117] - Net cash used in operating activities for the nine months ended September 30, 2024 was $270.9 million, including a net loss of $286.4 million[120] - Cash provided by investing activities for the nine months ended September 30, 2024 was $58.7 million, primarily from net maturities of marketable securities[120] - Net cash provided by financing activities for the nine months ended September 30, 2024 was $4.3 million, mainly from proceeds from the issuance of common stock[120] - Company expects operating expenses to increase over the next twelve months due to clinical-stage development and biologics license application readiness activities[121] - Company's cash, cash equivalents, and marketable securities as of September 30, 2024 are expected to fund operations for at least the next 12 months[122] - Aggregate future minimum commitments under office and laboratory leases as of September 30, 2024 are $231.5 million[124] Manufacturing and Facilities - Company established a 100,000 square foot manufacturing facility in Research Triangle Park, NC, supporting clinical programs and potential commercial supply[91]

Beam Therapeutics Inc. (BEAM) came out with a quarterly loss of $1.17 per share versus the Zacks Consensus Estimate of a loss of $1.13. This compares to loss of $1.22 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -3.54%. A quarter ago, it was expected that this company would post a loss of $1.13 per share when it actually produced a loss of $1.11, delivering a surprise of 1.77%.Over the last four quarters, the company has su ...

Financial Performance - Cash, cash equivalents, and marketable securities totaled $925.8 million as of September 30, 2024, down from $1.2 billion as of December 31, 2023[3] - Research and Development (R&D) expenses were $94.3 million for Q3 2024, a decrease of 5.8% from $100.1 million in Q3 2023[3] - General and Administrative (G&A) expenses increased to $26.5 million in Q3 2024, compared to $25.4 million in Q3 2023[3] - The net loss for Q3 2024 was $96.7 million, or $1.17 per share, compared to a net loss of $96.1 million, or $1.22 per share, in Q3 2023[3] - The company expects its cash position to fund operations into 2027, supporting key milestones for multiple programs[4] Clinical Trials and Developments - A total of 35 patients have been enrolled in the BEACON Phase 1/2 trial of BEAM-101, with eight patients dosed[1] - The first cohort dosing for the BEAM-302 trial in alpha-1 antitrypsin deficiency has been completed, with initial clinical data expected in 2025[1] - Beam anticipates initiating Phase 1-enabling preclinical studies for ESCAPE by the end of 2024[2] - Beam has nominated BEAM-103 and BEAM-104 as development candidates for its ESCAPE technology, targeting sickle cell disease and beta-thalassemia[1] - The company will present additional data from the BEACON trial and ESCAPE at the ASH Annual Meeting in December 2024[2]

Initial Clinical Data for BEAM-101 and Preclinical Non-human Primate Data for ESCAPE Accepted for Presentation at American Society of Hematology (ASH) Annual Meeting 35 Patients Enrolled and Eight Patients Dosed in BEACON Phase 1/2 Trial of BEAM-101 in Sickle Cell Disease First Cohort Dosing Completed in Phase 1/2 Trial of BEAM-302 in Alpha-1 Antitrypsin Deficiency; Initial Clinical Data Expected in 2025 Ended Third Quarter 2024 with $925.8 Million in Cash, Cash Equivalents and Marketable Securities; Expect ...

It has been about a month since the last earnings report for Beam Therapeutics Inc. (BEAM) . Shares have lost about 1.6% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Beam Therapeutics due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at the most recent earnings report in order to get a better handle on the important drivers. Beam Therapeutics Q2 Earning ...

Beam Therapeutics Inc. (BEAM) incurred a loss of $1.11 per share in the second quarter of 2024, narrower than the Zacks Consensus Estimate of a loss of $1.13. The company had recorded a loss of $1.08 per share in the year-ago quarter. Total revenues, comprising license and collaboration revenues, came in at $11.7 million in the second quarter compared with $20.1 million reported in the year-ago period. The top line missed the Zacks Consensus Estimate of $14 million. Quarter in Detail Research and developmen ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39208 Beam Therapeutics Inc. (Exact name of Registrant as specified in its Charter) Delaware 81-5238376 (State or other jurisdict ...

Beam Therapeutics Inc. (BEAM) came out with a quarterly loss of $1.11 per share versus the Zacks Consensus Estimate of a loss of $1.13. This compares to loss of $1.08 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 1.77%. A quarter ago, it was expected that this company would post a loss of $1.45 per share when it actually produced a loss of $1.21, delivering a surprise of 16.55%. Over the last four quarters, the company has ...

Exhibit 99.1 Beam Therapeutics Reports Pipeline Updates and Second Quarter 2024 Financial Results U.S. Food and Drug Administration Cleared Investigational New Drug (IND) Application for BEAM-301 in Glycogen Storage Disease Type Ia (GSDIa) More than 20 Patients Enrolled and Six Patients Dosed in BEACON Phase 1/2 Trial of BEAM-101 in Severe Sickle Cell Disease Initial Clinical Data for BEAM-101 and Preclinical Non-human Primate Data for ESCAPE Submitted for Presentation at the American Society of Hematology ...