Editas Medicine Files Q2 2024 10-Q
Ticker: EDIT · Form: 10-Q · Filed: Aug 7, 2024 · CIK: 1650664
Sentiment: neutral
Topics: 10-Q, biotechnology, financials
TL;DR
Editas Medicine's Q2 10-Q is in: financials and operations updated for investors.
AI Summary
Editas Medicine, Inc. filed its 10-Q for the period ending June 30, 2024, reporting on its financial performance and business operations. The company's financial statements and disclosures provide insights into its current financial health and strategic direction within the biotechnology sector.
Why It Matters
This filing provides investors and stakeholders with the latest financial and operational details for Editas Medicine, crucial for understanding the company's progress in developing gene-editing therapies.
Risk Assessment
Risk Level: medium — As a biotechnology company, Editas Medicine faces inherent risks related to drug development, regulatory approvals, and market competition.
Key Players & Entities
- Editas Medicine, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — Period of report
- 20240807 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on August 7, 2024.
What is the company's primary business sector?
The company's Standard Industrial Classification is Biological Products (No Diagnostic Substances) [2836].
Where is Editas Medicine, Inc. headquartered?
Editas Medicine, Inc. is headquartered at 11 Hurley St., Cambridge, MA 02141.
What is the SEC file number for Editas Medicine, Inc.?
The SEC file number for Editas Medicine, Inc. is 001-37687.
Filing Stats: 4,629 words · 19 min read · ~15 pages · Grade level 17.3 · Accepted 2024-08-07 16:11:10
Key Financial Figures
- $0.0001 — nge on which registered Common Stock , $0.0001 par value per share EDIT The Nasdaq St
Filing Documents
- edit-20240630.htm (10-Q) — 826KB
- edit-20240630xex311.htm (EX-31.1) — 9KB
- edit-20240630xex312.htm (EX-31.2) — 9KB
- edit-20240630xex321.htm (EX-32.1) — 6KB
- 0001650664-24-000097.txt ( ) — 4273KB
- edit-20240630.xsd (EX-101.SCH) — 25KB
- edit-20240630_cal.xml (EX-101.CAL) — 49KB
- edit-20240630_def.xml (EX-101.DEF) — 109KB
- edit-20240630_lab.xml (EX-101.LAB) — 457KB
- edit-20240630_pre.xml (EX-101.PRE) — 284KB
- edit-20240630_htm.xml (XML) — 509KB
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION 3 Item 1.
Financial Statements (unaudited)
Financial Statements (unaudited) 3 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2024 and 2023 4 Condensed Consolidated Statements of Comprehensive Loss for the three and six months ended June 30, 2024 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 9 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 16 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 28 Item 4.
Controls and Procedures
Controls and Procedures 28
OTHER INFORMATION
PART II. OTHER INFORMATION 30 Item 1.
Legal Proceedings
Legal Proceedings 30 Item 1A.
Risk Factors
Risk Factors 30 Item 5. Other Information 30 Item 6. Exhibits 31
Signatures
Signatures 32 2 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. Editas Medicine, Inc. Condensed Consolidated Balance Sheets (unaudited) (amounts in thousands, except share and per share data) June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 64,441 $ 123,652 Marketable securities 214,671 199,459 Accounts receivable 244 10,187 Prepaid expenses and other current assets 6,998 7,531 Total current assets 286,354 340,829 Marketable securities 39,195 104,024 Property and equipment, net 14,156 12,032 Right-of-use assets 36,951 33,680 Restricted cash and other non-current assets 8,145 8,588 Total assets $ 384,801 $ 499,153 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Accounts payable $ 13,769 $ 8,269 Accrued expenses 27,669 34,563 Deferred revenue, current 14,684 8,221 Operating lease liabilities 18,184 12,164 Total current liabilities 74,306 63,217 Operating lease liabilities, net of current portion 20,514 24,372 Deferred revenue, net of current portion 54,204 60,667 Other non-current liabilities 3,768 1,800 Total liabilities 152,792 150,056 Stockholders' equity Preferred stock, $ 0.0001 par value per share: 5,000,000 shares authorized; no shares issued or outstanding — — Common stock, $ 0.0001 par value per share: 195,000,000 shares authorized; 82,429,514 and 81,767,263 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 8 8 Additional paid-in capital 1,593,350 1,580,241 Accumulated other comprehensive (loss) income ( 442 ) 198 Accumulated deficit ( 1,360,907 ) ( 1,231,350 ) Total stockholders' equity 232,009 349,097 Total liabilities and stockholders' equity $ 384,801 $ 499,153 The accompanying notes are an integral part of the condensed consolidated financial statements. 3 Table of Contents Editas Medicine, Inc. Condensed Consolidated Statements of Operations (unaudited) (amounts in thousands, except share and per share data) Three Months Ended June 30, Six Months Ended June 30