On August 6, 2024 Black Diamond Therapeutics, Inc. (Nasdaq: BDTX), a clinical-stage oncology company developing MasterKey therapies that target families of oncogenic mutations in patients with cancer, reported financial results for the second quarter ended June 30, 2024, and provided a corporate update (Press release, Black Diamond Therapeutics, AUG 6, 2024, View Source [SID1234645411]).

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"We continue to execute on enrollment of patients with EGFR mutant NSCLC into second/third-line and first-line Phase 2 cohorts, and remain on track to announce initial results later in the third quarter of this year and in the first quarter of 2025, respectively", said Mark Velleca, M.D., Ph.D., Chief Executive Officer of Black Diamond Therapeutics. "We also look forward to sharing analyses of real world data at the 2024 ESMO (Free ESMO Whitepaper) Congress in September 2024 on treatment practices and therapeutic outcomes for newly diagnosed NSCLC patients with non-classical EGFR mutations that demonstrate a significant unmet medical need."

Recent Developments & Upcoming Milestones:

BDTX-1535:

In April 2024, Black Diamond described real world evidence of the evolving EGFR mutation landscape in patients with non-small cell lung cancer (NSCLC) and the potential of BDTX-1535 to address a broader range of mutations compared to existing therapies at the 2024 American Association for Cancer Research (AACR) (Free AACR Whitepaper) annual meeting. The analyses revealed a spectrum of previously underappreciated non-classical mutations, as well as an increased prevalence of the acquired resistance mutation C797S. These non-classical EGFR mutations were present in 20-30% of newly diagnosed epidermal growth factor receptor mutation positive (EGFRm) NSCLC patients.
In June 2024, Black Diamond presented additional data from the Phase 1 dose escalation trial of BDTX-1535 in patients with relapsed/recurrent glioblastoma (GBM), and initial intratumoral pharmacokinetic data from a "window of opportunity" (also known as a Phase 0/1 "Trigger") trial sponsored by the Ivy Brain Tumor Center, in patients with recurrent high-grade glioma (HGG), at the American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting. Safety and tolerability data in the Phase 1 trial were consistent with BDTX-1535 clinical data in patients with NSCLC previously presented in October 2023 at the European Organization for Research and Treatment of Cancer-National Cancer Institute-American Association for Cancer Research (AACR-NCI-EORTC) (Free AACR-NCI-EORTC Whitepaper) AACR-NCI-EORTC (Free AACR-NCI-EORTC Whitepaper) International Conference on Molecular Targets and Cancer Therapeutics (EORTC-NCI-AACR) (Free ASGCT Whitepaper) (Free EORTC-NCI-AACR Whitepaper). Among 19 efficacy evaluable patients, several experienced stable disease with promising durability. Results from the investigator-sponsored trial demonstrated that BDTX-1535 penetrates the blood brain barrier with clinically meaningful unbound drug concentration in gadolinium non-enhancing regions of the brain and inhibition of corresponding pharmacodynamic markers. Eight out of nine patients exceeded the pre-specified threshold for drug concentration in the brain tumor tissue and continued on study.
Black Diamond anticipates the following upcoming key milestones for BDTX-1535:
Disclosure of initial Phase 2 data in 2L/3L EGFRm NSCLC patients with non-classical mutations or the acquired resistance C797S mutation remains on track for later in Q3 2024.
Disclosure of initial Phase 2 data in 1L EGFRm NSCLC patients with non-classical mutations remains on track for Q1 2025 (NCT05256290).
An abstract has been accepted for presentation at the 2024 European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) Congress titled "Real World Evidence of Treatment Practices and Therapeutic Outcomes for Newly Diagnosed NSCLC Patients with Non-classical EGFR Mutations Demonstrates High Unmet Medical Need", which will detail an analysis of Guardant Inform data on treatment outcomes for newly diagnosed NSCLC patients with tumors expressing non-classical mutations.
BDTX-4933:

BDTX-4933 is a brain-penetrant oral inhibitor of oncogenic alterations in KRAS, NRAS and BRAF.
Enrollment of patients with BRAF and select RAS/MAPK mutation-positive cancers, with an emphasis on patients with KRAS mutant NSCLC, is progressing through escalating doses in a Phase 1 trial (NCT05786924). An update from this trial is on track for Q4 2024.
Corporate

Chief Business Officer & Chief Financial Officer, Fang Ni, Pharm.D, will participate in a panel discussion at the Wedbush PacGrow Healthcare Conference taking place August 13-14, 2024, in New York, NY.
Financial Highlights

Cash Position: Black Diamond ended the second quarter of 2024 with approximately $123.0 million in cash, cash equivalents, and investments compared to $131.4 million as of December 31, 2023. Net cash used in operations was $14.7 million for the second quarter of 2024 compared to $14.4 million for the second quarter of 2023.
Research and Development Expenses: Research and development (R&D) expenses were $12.6 million for the second quarter of 2024, compared to $13.2 million for the same period in 2023. The decrease in R&D expenses was primarily due to workforce efficiencies and reduced spending on early discovery projects.
General and Administrative Expenses: General and administrative (G&A) expenses were $9.6 million for the second quarter of 2024, compared to $6.9 million for the same period in 2023. The increase in G&A expenses was primarily due to an increase in consulting and other professional fees.
Net Loss: Net loss for the second quarter of 2024 was $19.9 million, as compared to $19.2 million for the same period in 2023.
Financial Guidance

Black Diamond ended the second quarter of 2024 with approximately $123.0 million in cash, cash equivalents and investments which the Company believes is sufficient to fund its anticipated operating expenses and capital expenditure requirements into the fourth quarter of 2025.

On August 6, 2024 BioXcel Therapeutics, Inc. (Nasdaq: BTAI), a biopharmaceutical company utilizing artificial intelligence to develop transformative medicines in neuroscience and immuno-oncology, reported its financial results for the second quarter of 2024 (Press release, BioXcel Therapeutics, AUG 6, 2024, View Source [SID1234645410]).

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"We are on track with our business priorities as we focus on bringing BXCL501 to the greatest number of patients in need," said Vimal Mehta, Ph.D., CEO of BioXcel Therapeutics. "We are pleased with the progress with our SERENITY and TRANQUILITY programs and our focused market-access strategy for IGALMI. Our confidence in our lead neuroscience asset is underpinned by its broad therapeutic potential across multiple neuropsychiatric conditions and its growing intellectual property portfolio."

Late-Stage Clinical Programs

· SERENITY At-Home* Pivotal Phase 3 Trial: designed to evaluate the safety of a 120 mcg dose of BXCL501 in the at-home setting for agitation associated with bipolar disorders or schizophrenia.

o Recently received feedback on protocol from U.S. Food and Drug Administration (FDA).

· TRANQUILITY In-Care Pivotal Phase 3 Trial: designed to evaluate the efficacy and safety of a 60 mcg dose of BXCL501 for agitation associated with Alzheimer’s dementia (AAD).

o Protocol being finalized for planned submission to FDA.

IGALMI (dexmedetomidine) Sublingual film

Post-marketing Requirement (PMR) Study

· Reported positive topline results from PMR study evaluating PRN (as-needed) treatment of IGALMI for agitation associated with bipolar disorders or schizophrenia.

o Study achieved its objective and demonstrated no evidence of tachyphylaxis, tolerance, or withdrawal with 180 mcg dose (highest approved dose).

o Although this PMR study was not statistically powered to evaluate repeat dose efficacy, a reduction in agitation was observed for each episode occurring during the seven-day study period, and no serious adverse events were reported following treatment.

Commercialization

· IGALMI net revenue grew 90% in Q2 2024 over Q1 2024 driven by focused market-access strategy and increased contracting with psychiatric care clinics and behavioral health facilities using a small commercial team.

Patent Portfolio

The Company continues to strengthen its intellectual property portfolio for IGALMI.

· Recently received a U.S. Patent and Trademark Office (USPTO) Notice of Allowance for U.S. Patent Application No. 18/526,686 for IGALMI. Once issued by the USPTO, the patent is expected to have an expiration date of January 12, 2043, and will be submitted for listing in the FDA’s Approved Drug Products with Therapeutic Equivalence Evaluations (commonly known as the "Orange Book").

· This is expected to be the 11th listed U.S. patent for IGALMI in the Orange Book.

On August 6, 2024 Bicycle Therapeutics plc (NASDAQ: BCYC), a pharmaceutical company pioneering a new and differentiated class of therapeutics based on its proprietary bicyclic peptide (Bicycle) technology, reported recent business progress and financial results for the second quarter ended June 30, 2024 (Press release, Bicycle Therapeutics, AUG 6, 2024, View Source [SID1234645409]).

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"In the second quarter, we continued to demonstrate the ongoing progress of our pipeline and highlight the emerging differentiated profiles of our Bicycle Toxin Conjugates zelenectide pevedotin and BT5528 compared to antibody drug conjugates. As we enter the second half of the year, we look forward to sharing the first set of data updates from our clinical programs at the upcoming ESMO (Free ESMO Whitepaper) Congress," said Kevin Lee, Ph.D., CEO of Bicycle Therapeutics. "Additionally, I am honored to welcome renowned oncology experts from around the world to our Clinical Advisory Board. Their advice and counsel will be critical as we work to develop therapies that can help patients live longer and live well."

Dr. Lee continued: "Bicycle Therapeutics also significantly strengthened our balance sheet in the second quarter through the support of leading healthcare investors. Moreover, we have prioritized our pipeline and streamlined our leadership team to enable us to focus on the clinical programs and research areas that we believe have the highest potential for value creation and align with our strategy to support the long-term growth of our company."

Second Quarter 2024 and Recent Events

Four abstracts accepted for poster presentation at the European Society for Medical Oncology (ESMO) (Free ESMO Whitepaper) Congress 2024 being held September 13-17 in Barcelona. Bicycle Therapeutics will present four abstracts containing updated clinical data for zelenectide pevedotin (formerly BT8009) in metastatic urothelial cancer (mUC), BT5528 in advanced solid tumors such as mUC and ovarian, and BT7480 in advanced solid tumors.

In June, the company presented two abstracts at the 2024 American Society for Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting outlining clinical pharmacokinetics of Bicycle Toxin Conjugate (BTC) molecules zelenectide pevedotin and BT5528 compared to antibody drug conjugate enfortumab vedotin and evaluating the emerging safety profile of both BTC molecules, along with an overview of the company’s ongoing Phase 2/3 Duravelo-2 registrational trial of zelenectide pevedotin in mUC.
Focused research and development (R&D) pipeline on clinical programs and research areas that the company believes have the highest potential to maximize value creation. Activities include:
Prioritizing the clinical development of zelenectide pevedotin and BT5528 in multiple tumor types.
Focusing near-term research efforts on advancing the company’s Bicycle Radionuclide Conjugate (BRC) pipeline and the discovery of next-generation BTC molecules.
Except for BT7480, exploring innovative ways to continue development of the company’s immuno-oncology portfolio, including Bicycle Tumor-targeted Immune Cell Agonist (Bicycle TICA) molecules, through collaboration.
Streamlined leadership team to better align with strategic and pipeline priorities.
Michael Skynner, Ph.D., chief technology officer, has assumed leadership of Bicycle Therapeutics’ discovery research team, and all discovery research activities will be consolidated and moved to the company’s headquarters in Cambridge, UK.
Jennifer Perry, Pharm.D., promoted to chief strategy officer and head of commercial. Since joining Bicycle Therapeutics in August 2022, Ms. Perry has been instrumental in establishing and growing Bicycle Therapeutics’ commercial organization. In this expanded role, she will oversee the company’s corporate and end-to-end portfolio strategy while also fulfilling her existing commercial responsibilities. Ms. Perry has more than 20 years of experience in pharma and biotech, with 15 years in oncology. Her experience spans commercial and medical roles with a focus on go-to-market strategies for launching oncology medicines at GSK, Tesaro, TG Therapeutics and Pharmacyclics.
Nick Keen, Ph.D., chief scientific officer, is transitioning to an advisor role with the company as a distinguished fellow, where he will advise the company as needed. The company also hired Eric Westin, M.D., former vice president of clinical development and translational sciences at ImmunoGen, to an advisor role with the company as a distinguished fellow to help refine the company’s translational and clinical strategy.

Formed new Clinical Advisory Board with distinguished global oncology experts to support the advancement of clinical oncology programs. The company expects that the advisors will provide invaluable guidance and insights for the global clinical development of the company’s clinical programs. Inaugural members include:
Charles Swanton, M.D., Ph.D., FRS, FMedSci, FRCP, is the chair of Bicycle Therapeutics’ Clinical Advisory Board and Scientific Advisory Board. He leads the Cancer Evolution and Genome Instability Laboratory at the Francis Crick Institute in London. Dr. Swanton’s research is focused on how tumors evolve over space and time, and he has authored over 250 papers developing an understanding of branching evolutionary histories of solid tumors, processes that drive cancer cell-to-cell variation and the impact of cancer diversity on effective immune surveillance and clinical outcome.
Toni K. Choueiri, M.D., is the director of the Lank Center for Genitourinary (GU) Oncology at Dana-Farber Cancer Institute and the Jerome and Nancy Kohlberg Chair and Professor of Medicine at Harvard Medical School. Dr. Choueiri and colleagues have made seminal observations that have defined and evolved the treatment of kidney cancer and led to the approval of several therapies. He has over 800 PubMed-indexed publications and is the lead investigator of multiple national and international Phase 1-3 trials in GU cancers.

Sherene Loi, MBBS (Hons), Ph.D., FRACP, FAHMS, is a medical oncologist specialized in breast cancer treatment and a clinician scientist (lab head) with expertise in genomics, immunology and drug development at the Peter MacCallum Cancer Centre in Melbourne, Australia. She is recognized internationally as a leading clinician scientist whose work has led to new insights into the breast cancer immunology field as well as leading international clinical trials in breast cancer immunotherapy. Professor Loi has published over 330 research articles, co-chairs the International Breast Cancer Study Group and is the Inaugural National Breast Cancer Foundation of Australia Endowed Chair. In 2021, she received the Australian Prime Minister’s Frank Fenner Prize for Life Scientist of the Year.

Solange Peters, M.D., Ph.D., is full professor and chair of medical oncology and the chair of the thoracic malignancies program in the Department of Oncology at the University Hospital of Lausanne in Switzerland. She currently oversees teaching and patient care in thoracic malignancies at Lausanne University, and her main fields of interest include new biomarker discovery and validation in preclinical and clinical settings as well as cancer immunotherapy. She is the youngest president of ESMO (Free ESMO Whitepaper), serving for an extended period of 2020-2022. Professor Peters has authored over 500 peer-reviewed manuscripts and book chapters and is associate editor of the Annals of Oncology, deputy editor of Lung Cancer and serves on the editorial board of several other oncology journals. She was the deputy editor of the Journal of Thoracic Oncology for 10 years.

Raised gross proceeds of $555 million in private investment in public equity (PIPE) financing. The PIPE financing, with participation from leading healthcare investors, is expected to extend the company’s financial runway into the second half of 2027. The company plans to use the net proceeds of $544.1 million to fund the continued development of its proprietary pipeline and for other R&D, as well as for general corporate purposes.
Repaid and voluntarily terminated outstanding debt with Hercules. In July 2024, Bicycle Therapeutics announced the repayment of its loan with Hercules Capital, Inc., ahead of its 2025 maturity date, with total payments of $31.9 million, including accrued and unpaid interest, an end-of-term charge and an early repayment fee.
Second Quarter 2024 Financial Results

Cash and cash equivalents were $961.4 million as of June 30, 2024, compared to $526.4 million as of December 31, 2023. The increase in cash and cash equivalents is primarily due to net proceeds from the PIPE financing and share option exercises, offset by cash used in operating activities.
R&D expenses were $40.1 million for the three months ended June 30, 2024, compared to $39.7 million for the three months ended June 30, 2023. The increase in expense of $0.4 million was primarily due to increased clinical program expenses for zelenectide pevedotin development and increased personnel-related expenses, offset by decreased clinical program expenses for Bicycle TICA molecule development, decreased discovery, platform and other expenses and incremental U.K. R&D tax credits.
General and administrative expenses were $15.9 million for the three months ended June 30, 2024, compared to $14.8 million for the three months ended June 30, 2023. The increase of $1.1 million was primarily due to increased personnel-related costs.
Net loss was $39.8 million, or $(0.77) basic and diluted net loss per share, for the three months ended June 30, 2024, compared to net loss of $42.6 million or $(1.41) basic and diluted net loss per share, for three months ended June 30, 2023.

On August 6, 2024 SEED Therapeutics Inc. ("SEED"), a biotechnology company focused on harnessing and engineering Molecular Glues for targeted protein degradation (TPD) of disease-causing proteins, reported a strategic research collaboration with Eisai Co., Ltd. ("Eisai") to discover, develop, and commercialize novel molecular glue degraders for multiple undisclosed neurodegeneration and oncology targets (Press release, Seed Therapeutics, AUG 6, 2024, View Source [SID1234645408]). The collaboration is coupled with a Series A-3 financing led by Eisai.

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Key Aspects of the SEED – Eisai Collaboration:

Collaboration Roles: SEED will lead preclinical discovery activities for the selected targets, including E3 ligase selection and identification of the appropriate molecular glue degraders. Eisai will have exclusive rights to develop and commercialize compounds derived from this collaboration.
Financial Terms: SEED is entitled to receive upfront payment and preclinical, clinical, regulatory and sales milestone payments of up to $1.5 billion, plus tiered royalties upon Eisai’s exercise of their exclusive rights under the strategic research collaboration.
The SEED–Eisai collaboration follows a separate and on-going research collaboration between SEED and Eli Lilly to discover and develop Molecular Glue Degraders for undisclosed targets. (Click here for related press release.)

Series A-3 Financing:

SEED also announces a Series A-3 financing with a first close of $24 million from investors led by Eisai. A second close is targeted for Q4 2024.

The Series A-3 financing is expected to further accelerate SEED’s clinical development of internal proprietary programs in cancer and in neurodegeneration, expand its TPD platform and pipeline, and supplement prior investments from Eli Lilly and BeyondSpring.

SEED will advance its internal, potentially "best-in-class" oral RBM39 Degrader into Phase 1 safety/efficacy testing beginning in 2025 for rationally selected, biomarker-driven cancer indications. SEED’s program will build on Eisai’s pioneering discovery of a class of RBM39 degraders over three decades.
SEED will also progress its internal Tau degrader program (for Alzheimer’s disease) into in vivo efficacy in 2025, and IND in 2026.
SEED will scale its proprietary TPD platform development. With global neurodegeneration drug development leaders Eisai and Eli Lilly as investors and research collaborators, SEED will extend its research and thought leadership in the discovery and development of oral Molecular Glues for the treatment of neurodegenerative diseases.

Dr. Takashi Owa, Eisai’s Chief Scientific Officer stated: "SEED has a cutting-edge technology platform to discover a class of molecular-glue target protein degraders, one of the most highlighted modalities in the modern drug discovery. While the anti-myeloma drug lenalidomide from the molecular-glue class has been successful in the oncology field, our research collaboration will also focus on utilizing this modality in the neurology field. Our collaboration with SEED is unique and clearly differentiated, and I look forward to learning of the important progress being made by both companies to achieve Social Good."

Dr. Lan Huang, SEED’s Co-Founder, Chairman, and CEO added, "We are honored to collaborate with Eisai, a world-leading drug development powerhouse, to discover impactful medicines for undruggable targets. Looking ahead, SEED’s unique Molecular Glue discovery platform on neurodegenerative disease will be further strengthened through our collaborations with both Eli Lilly and Eisai (under separate collaboration agreements), two global pioneers in the timely development of treatments for neurodegeneration, including approved therapies for Alzheimer’s disease. Finally, having demonstrated the scalability and versatility of our TPD platform through the success of multiple pipeline programs across various key therapeutic indications, our Series A-3 financing and non-dilutive funding of R&D milestone payments from both Eli Lilly and Eisai, SEED is well-positioned to advance our internal high-profile programs into clinics, and to create great value for patients and our shareholders."

This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

On August 6, 2024 Beam Therapeutics Inc. (Nasdaq: BEAM), a biotechnology company developing precision genetic medicines through base editing, reported second quarter 2024 financial results and provided updates across the company’s hematology and genetic disease franchises (Press release, Beam Therapeutics, AUG 6, 2024, View Source [SID1234645407]).

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"This quarter we’ve made significant progress across our rapidly expanding clinical portfolio, where each program utilizes the power and precision of base editing technology to provide potential best-in-class genetic medicines for patients," said John Evans, chief executive officer of Beam. "In our genetic disease franchise, we’re pleased to announce the clearance of our U.S. investigational new drug (IND) application for BEAM-301, our first U.S. in vivoregulatory filing. We’re focused on initiating site activation activities for BEAM-301 as well as continuing to enroll our BEAM-302 Phase 1/2 clinical trial in alpha-1 antitrypsin deficiency (AATD) following study initiation in June. We look forward to reporting the first data from the BEAM-302 trial next year. In addition, enrollment in the BEACON trial of BEAM-101 in sickle cell disease (SCD) has exceeded expectations, with more than 20 patients enrolled and six dosed, plus additional patients consented and in the screening process. Initial BEAM-101 clinical data have been submitted for presentation at the American Society of Hematology (ASH) (Free ASH Whitepaper) Annual Meeting taking place in December, along with abstracts for the first clinical data for BEAM-201 as well as our first ESCAPE preclinical data in non-human primates."

Second Quarter 2024 and Recent Progress

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To date, more than 20 patients have cleared screening and enrolled in the BEACON Phase 1/2 clinical trial of BEAM-101, an investigational genetically modified cell therapy for the treatment of SCD. Of these patients, six have been dosed with BEAM-101, with the other enrolled patients going through pre-transplant stages including mobilization and manufacturing.
•
In June, Beam reported data at the European Hematology Association (EHA) (Free EHA Whitepaper) Hybrid Congress highlighting its optimized, closed and automated manufacturing process for its base-edited CD34+ hematopoietic stem and progenitor cell genetic medicines, which is currently being deployed for the manufacturing of BEAM-101 in the BEACON Phase 1/2 clinical trial. The data, which include both preclinical and GMP clinical manufacturing experience to date, demonstrate that the use of base editing technology plus the advanced CD34+ manufacturing process employed by Beam are achieving reproducible and robust product yields and viability that meet high-quality standards.
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In June, Beam announced that the first patient was treated with BEAM-302, an investigational in vivo base editing medicine designed to precisely correct the underlying cause of severe AATD that is currently being evaluated in a Phase 1/2 clinical trial.
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The U.S. Food and Drug Administration has cleared the IND application for BEAM-301, an investigational in vivo base editing medicine designed to directly correct the R83C mutation, one of the primary disease-causing mutations of glycogen storage disease type Ia (GSDIa).
Key Anticipated Milestones

Hematology Franchise

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Initial data from the BEACON Phase 1/2 clinical trial have been submitted for presentation at the ASH (Free ASH Whitepaper) Annual Meeting, taking place December 7-10, 2024. Pending acceptance, Beam anticipates presenting data on all patients from the sentinel cohort as well as multiple patients from the expansion cohort.
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Beam continues to advance and invest in its Engineered Stem Cell Antibody Paired Evasion (ESCAPE) conditioning platform and anticipates initiating Phase 1-enabling preclinical studies for the program in 2024. Preclinical data for ESCAPE in non-human primates have been submitted for presentation at ASH (Free ASH Whitepaper).
Genetic Disease Franchise

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Beam continues to enroll the Phase 1/2 clinical trial of BEAM-302 in patients with AATD and expects to report initial clinical data in 2025.
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The company is now initiating site activation activities for the Phase 1/2 clinical trial for BEAM-301 in GSDIa with patient dosing expected to commence in early 2025.
Oncology

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Initial data from the Phase 1/2 clinical trial of BEAM-201, a multiplex-edited allogeneic CAR-T product candidate for the treatment of relapsed/refractory T-cell acute lymphoblastic leukemia (T-ALL)/T-cell lymphoblastic lymphoma (T-LL), have been submitted for presentation at the ASH (Free ASH Whitepaper) Annual Meeting.
Second Quarter 2024 Financial Results

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Cash Position: Cash, cash equivalents and marketable securities, were $1.0 billion as of June 30, 2024, compared to $1.2 billion as of December 31, 2023.
•
Research & Development (R&D) Expenses: R&D expenses were $87.0 million for the second quarter of 2024, compared to $97.6 million for the second quarter of 2023.
•
General & Administrative (G&A) Expenses: G&A expenses were $29.6 million for the first quarter of 2024, compared to $24.7 million for the second quarter of 2023.
•
Net Loss: Net loss was $91.1 million for the second quarter of 2024, or $1.11 per share, compared to $82.8 million for the second quarter of 2023, or $1.08 per share.
Cash Runway

Beam expects that its cash, cash equivalents and marketable securities as of June 30, 2024, will enable the company to fund its anticipated operating expenses and capital expenditure requirements into 2027. This expectation includes funding directed toward reaching each of the key anticipated milestones for BEAM-101, ESCAPE, BEAM-301 and BEAM-302 described above, as well as continued investments in platform advancements and manufacturing capabilities, and excludes commercial spend related to the potential launch of BEAM-101.