Editas Medicine Inc. (NASDAQ: EDIT), a biotechnology firm that develops genome-editing medicines, released its third-quarter 2021 results. The firm is well-funded, and its gene treatments are proving to be effective.
Editas Medicine Inc. (EDIT) had revenue of $62.8 million in the previous quarter, but a loss of $39.1 million, or $0.57 per share. The outcomes far beyond Wall Street’s expectations. At the same time, the company has $657 million in cash and equivalents, enough to keep the business running until 2023.
Editas Medicine Inc. (EDIT) is presently doing clinical research on multiple gene treatments, with the next phase of their studies set to begin in 2022. For Leber’s congenital amaurosis, high-dose adult and medium-dose paediatric EDIT-101 treatment will be studied. In the first half of next year, phase 1/2 studies of the EDIT-301 therapy for the treatment of sickle cell disease will commence.
Editas Medicine will submit an application for research on early-stage therapy for beta thalassemia by the end of 2021. Because EDIT-301 is significant as a potential approach to stop patients from needing regular blood transfusions, the application is likely to be accepted.
The disclosure of the successful creation of a novel gene editing technique was a significant positive signal in the third quarter report. Preclinical evidence on SLEEK, a novel gene editing method that permits extremely reliable modifications to the DNA of multiple critical cell types in clinical treatment, is given. First and foremost, SLEEK can be used in the Editas iNK cancer-fighting programme.
The EDIT share was valued at $40.56 at the end of trading on November 9. The company’s market value has risen to $2.79 billion.