Entrada Therapeutics Q3 2024: $418M Assets

TL;DR

Entrada Therapeutics has $418M in assets as of 9/30/24. Q3 financials out.

AI Summary

Entrada Therapeutics, Inc. filed its quarterly report for the period ending September 30, 2024. The company reported total assets of $418 million as of September 30, 2024. The filing covers the nine months ended September 30, 2024, and the three months ended September 30, 2024, comparing them to the same periods in 2023.

Why It Matters

This filing provides a snapshot of Entrada Therapeutics' financial health and asset base as of Q3 2024, which is crucial for investors assessing the company's stability and resources.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Entrada Therapeutics is subject to inherent risks related to drug development, regulatory approvals, and market competition.

Key Numbers

• $418M — Total Assets (As of September 30, 2024)

Key Players & Entities

• Entrada Therapeutics, Inc. (company) — Filer of the 10-Q report
• 2024-09-30 (date) — End of the reporting period
• $418 million (dollar_amount) — Total assets reported
• 2024-07-01 (date) — Start of the third quarter of 2024
• 2024-09-30 (date) — End of the third quarter of 2024
• 2023-07-01 (date) — Start of the third quarter of 2023
• 2023-09-30 (date) — End of the third quarter of 2023

FAQ

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share TRDA The Nasdaq Global Market

Filing Documents

• trda-20240930.htm (10-Q) — 1560KB
• trda-20240930x10qex311.htm (EX-31.1) — 11KB
• trda-20240930x10qex312.htm (EX-31.2) — 11KB
• trda-20240930x10qex321.htm (EX-32.1) — 7KB
• 0001689375-24-000063.txt ( ) — 6025KB
• trda-20240930.xsd (EX-101.SCH) — 33KB
• trda-20240930_cal.xml (EX-101.CAL) — 58KB
• trda-20240930_def.xml (EX-101.DEF) — 178KB
• trda-20240930_lab.xml (EX-101.LAB) — 500KB
• trda-20240930_pre.xml (EX-101.PRE) — 350KB
• trda-20240930_htm.xml (XML) — 659KB

Financial Statements (Unaudited)

Financial Statements (Unaudited) 8 Condensed Consolidated Balance Sheets 8 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss ) 9 Condensed Consolidated Statements of Stockholders' Equity 10 Condensed Consolidated Statements of Cash Flows 11 Notes to Condensed Consolidated Financial Statements 12 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 35 Item 4.

Controls and Procedures

Controls and Procedures 35 Part II Other Information Item 1.

Legal Proceedings

Legal Proceedings 37 Item 1A.

Risk Factors

Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 98 Item 3. Defaults Upon Senior Securities 98 Item 4. Mine Safety Disclosures 98 Item 5. Other Information 98 Item 6. Exhibits 100

Signatures

Signatures 101 We own various U.S. federal trademark applications and unregistered trademarks, including our company name and logo, that we use in connection with the operation of our business. This Quarterly Report on Form 10-Q ("Quarterly Report") may also contain trademarks, service marks and trade names of third parties, which are the property of their respective owners. Our use or display of third parties' trademarks, service marks, trade names or products in this Quarterly Report is not intended to, and does not imply a relationship with, or endorsement or sponsorship by us. Solely for convenience, the trademarks, service marks and trade names referred to in this Quarterly Report may appear without the , TM or SM symbols, but the omission of such references is not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or that the applicable owner of these trademarks, service marks and trade names will not assert, to the fullest extent under applicable law, its rights. From time to time, we may use our website or our LinkedIn profile at www.linkedin.com/company/entradatx to distribute material information. Our financial and other material information is routinely posted to and accessible on the Investors Relations section of our website, available at www.entradatx.com. Investors are encouraged to review the Investors Relations section of our website because we may post material information on that site that is not otherwise disseminated by us. Information that is contained in and can be accessed through our website or our LinkedIn profile is not incorporated into, and does not form a part of, this Quarterly Report. 2 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q ("Quarterly Report") contains express or implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Secu

—FINANCIAL INFORMATION

PART I —FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements ENTRADA THERAPEUTICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share amounts) (unaudited) September 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 78,049 $ 67,602 Marketable securities 371,295 284,367 Collaboration receivable 2,603 5,878 Prepaid expenses and other current assets 13,388 11,924 Total current assets 465,335 369,771 Property and equipment, net 10,786 11,191 Restricted cash 3,950 3,950 Right-of-use assets, operating leases 73,773 81,490 Other non-current assets 746 2,790 Total assets $ 554,590 $ 469,192 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 1,292 $ 3,277 Accrued expenses and other current liabilities 13,403 11,325 Income taxes payable 2,251 4,024 Operating lease obligations, current portion 7,738 7,909 Deferred revenue, current portion 45,919 132,261 Total current liabilities 70,603 158,796 Operating lease obligations, net of current portion 53,576 60,321 Deferred revenue, net of current portion 7,964 7,715 Total liabilities 132,143 226,832 Commitments and contingencies (Note 11) Stockholders' equity: Common stock, par value $ 0.0001 ; 150,000,000 shares authorized; 37,414,899 shares issued and 37,400,499 shares outstanding as of September 30, 2024 and 33,461,771 shares issued and 33,437,296 shares outstanding as of December 31, 2023 4 3 Additional paidin capital 551,946 437,132 Accumulated other comprehensive income 972 195 Accumulated deficit ( 130,475 ) ( 194,970 ) Total stockholders' equity 422,447 242,360 Total liabilities and stockholders' equity $ 554,590 $ 469,192 The accompanying notes are an integral part of these condensed consolidated financial statements. 8 Table of Contents ENTRADA THERAPEUTICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (In thousands, except share and per share amounts) (unaudited) Three Months

View Full Filing

View this 10-Q filing on SEC EDGAR