Beam Therapeutics Reports Third Quarter 2026 Financial Results and Highlights Clinical Progress Across Base Editing Portfolio

The projected runway into mid-2029 depends on an additional $200 million of borrowings subject to conditions.

Rhea-AI Summary

Beam Therapeutics (Nasdaq: BEAM) reported a third-quarter 2026 net loss of $134.405 million while advancing its base-editing clinical programs. Loss per share was $1.28, versus $1.10 a year earlier; license and collaboration revenue fell to $307,000 from $9.698 million.

BEAM-302 data showed sustained increases in functional alpha-1 antitrypsin and reductions in mutant protein through up to 18 months. Beam expects pivotal-cohort dosing completion in the first half of 2027, a risto-cel sickle cell disease application as early as year-end 2026, and initial BEAM-304 dosing in early 2027. Initial BEAM-301 results showed improved fasting tolerance; enrollment in a higher-dose cohort is underway.

Cash, equivalents and marketable securities totaled $1.0 billion at September 30. Beam expects funding into mid-2029, including an additional $200 million of Sixth Street borrowings subject to borrowing conditions.

15 points · 0 major

MixediHow this balance works

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0 major · 14 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointBEAM-302 showed durable functional AAT increases and mutant Z-AAT reductions through up to 18 months.
• Moderate point. Forward-looking: it has not happened yet and may not happen.BEAM-302 pivotal-cohort dosing is underway; Beam expects completion in the first half of 2027.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Risto-cel U.S. approval application is expected as early as year-end 2026.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Risto-cel updated clinical data are expected by year-end 2026.
• Moderate pointBEAM-301 improved time to fasting hypoglycemia across all patients, with dose-dependent results.
• Moderate point. Forward-looking: it has not happened yet and may not happen.BEAM-301 60 mg cohort enrollment is underway; Beam plans FDA discussions on a potential approval path.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Beam expects funding into mid-2029 to support anticipated operating expenses and capital expenditures.

8 minor points

• Minor pointBEAM-302 also showed reduced neutrophil elastase activity and toxic circulating Z-polymers after one dose.
• Minor pointBEAM-301: two of three patients in the 40 mg cohort reached 15-hour fasting and eliminated starch supplementation.
• Minor pointBEAM-301 showed an acceptable safety profile across both doses, consistent with known lipid nanoparticle therapy risks.
• Minor point. Forward-looking: it has not happened yet and may not happen.BEAM-304 initial Phase 1/2 dosing is expected in early 2027.
• Minor pointBEAM-304 added a third mutation-specific base editor to its development program.
• Minor pointTargeted delivery particles for blood-forming stem cells have been identified and reached advanced lead optimization.
• Minor pointNine-month license and collaboration revenue rose to $32.535 million from $25.634 million a year earlier.
• Minor pointNine-month research and development expenses declined to $309.730 million from $310.343 million a year earlier.

Negative

• Moderate pointThird-quarter net loss widened to $134.405 million, or $1.28 per share, from $112.571 million, or $1.10.
• Moderate pointCash, equivalents and marketable securities declined to $1.043873 billion from $1.245210 billion at December 31, 2025.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Projected runway relies on $200 million of additional Sixth Street borrowings, subject to applicable conditions. 7.5% of market cap
• Moderate pointNine-month net loss widened to $351.401 million, or $3.38 per share, from $323.039 million, or $3.31.
• Minor pointThird-quarter license and collaboration revenue fell to $307,000 from $9.698 million a year earlier.

9 minor points

• Minor pointThird-quarter research and development expenses rose to $110.110 million from $109.769 million a year earlier.
• Minor pointThird-quarter general and administrative expenses rose to $31.519 million from $26.740 million a year earlier.
• Minor pointThird-quarter operating loss widened to $141.322 million from $126.811 million a year earlier.
• Minor pointThird-quarter interest and other income, net, fell to $6.094 million from $10.903 million a year earlier.
• Minor pointNine-month general and administrative expenses rose to $97.895 million from $81.539 million a year earlier.
• Minor pointNine-month operating loss widened to $375.090 million from $366.248 million a year earlier.
• Minor pointNine-month interest and other income, net, fell to $23.448 million from $33.093 million a year earlier.
• Minor pointTotal liabilities increased to $316.398 million from $242.819 million at December 31, 2025.
• Minor pointStockholders’ equity declined to $952.674 million from $1.238358 billion at December 31, 2025.

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Key Figures

Cash, cash equivalents and marketable securities: $1.0 billion Expected cash runway: Into mid-2029 Net loss: $134.4 million +4 more

Cash, cash equivalents and marketable securities

$1.0 billion

As of September 30, 2026

Expected cash runway

Into mid-2029

Includes an additional $200 million expected to be drawn, subject to applicable conditions

Net loss

$134.4 million

Third quarter 2026; compared with $112.6 million in third quarter 2025

Net loss per share

$1.28

Third quarter 2026; compared with $1.10 in third quarter 2025

Patients reaching maximum controlled fasting duration

2 of 3 patients; 15 hours

BEAM-301 40 mg cohort; protocol-defined maximum

Potential U.S. patient coverage

Up to 50% of PKU patients

BEAM-304 program; company estimate

Potential BLA submission

As early as year-end 2026

Risto-cel for sickle cell disease

Previous Earnings Reports

1 past event · Latest: Aug 04

Same Type 1 event

1. Aug 04

   Earnings report

   24h Move

   +9.4%

   First BEAM-302 pivotal-cohort patient dosed; cash runway expected into mid-2029.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

biologics license application (bla), alpha-1 antitrypsin deficiency (aatd), lipid nanoparticle (lnp), phenylketonuria (pku)

4 terms

biologics license application (bla) regulatory

"U.S. Biologics License Application (BLA) Submission for Risto-cel"

A biologics license application (BLA) is a formal request to a government agency seeking approval to sell a biological medicine, such as vaccines or gene therapies, in the market. It is similar to a detailed report that proves the product is safe, effective, and manufactured properly. For investors, a BLA signifies a critical step toward commercial availability, often impacting a company's valuation and market prospects.

alpha-1 antitrypsin deficiency (aatd) medical

"therapy for alpha-1 antitrypsin deficiency (AATD)"

A genetic disorder caused by mutations in the SERPINA1 gene that reduce the blood level or function of the protein alpha-1 antitrypsin (AAT). AAT normally protects lung tissue from enzymes released by immune cells; deficiency of functional AAT increases risk of early-onset emphysema and can cause accumulation of misfolded AAT in the liver, leading to liver injury. Diagnosis is made by measuring AAT blood levels and by phenotype or genotype testing for SERPINA1 variants; clinical severity varies by the specific genetic variants present and by environmental factors such as smoking.

lipid nanoparticle (lnp) technical

"safety profile consistent with lipid nanoparticle (LNP)-based therapies"

A lipid nanoparticle (LNP) is a tiny, oil-like shell made from fats that carries fragile molecules such as RNA or drugs into the body, acting like a microscopic delivery truck or protective bubble. It matters to investors because LNPs determine whether advanced therapies and vaccines work, how safe they are, how difficult they are to manufacture and scale, and therefore influence product value, regulatory approval chances, and commercial potential.

phenylketonuria (pku) medical

"mutations in the phenylalanine hydroxylase (PAH) gene that cause phenylketonuria (PKU)"

A genetic metabolic disorder in which the body cannot break down the amino acid phenylalanine, causing it to build up and potentially damage the brain if untreated; newborn screening and lifelong management are common. Investors care because the condition creates steady demand for diagnostic tests, specialized diets and medical treatments, and because regulatory approvals, reimbursement rules and advances in therapy can materially affect market size and company revenues—think of it like a clogged drain that needs ongoing tools and fixes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Updated BEAM-302 Phase 1/2 Clinical Data Presented at ERS Demonstrated Durable Increases in Functional AAT and Reductions in Mutant Z-AAT; Completion of Dosing in the Global Pivotal Cohort Expected in First Half of 2027

U.S. Biologics License Application (BLA) Submission for Risto-cel in Sickle Cell Disease Expected as Early as Year-End 2026

Dosing in Phase 1/2 Trial of BEAM-304 in PKU Anticipated to Initiate in Early 2027

Initial BEAM-301 Phase 1/2 Data Presented at ESGCT Demonstrated Clinical Proof of Concept for Genetic Correction of R83C Mutation in GSDIa; Enrollment in 60 mg Cohort Underway

Ended Third Quarter 2026 with $1.0 Billion in Cash, Cash Equivalents and Marketable Securities; Cash Runway Expected to Support Operating Plans into Mid-2029

CAMBRIDGE, Mass., Nov. 03, 2026 (GLOBE NEWSWIRE) -- Beam Therapeutics Inc. (Nasdaq: BEAM), a biotechnology company developing precision genetic medicines through base editing, today reported third quarter 2026 financial results and provided updates across the company’s hematology and genetic disease franchises.

“Our progress this quarter reflects the growing maturity and momentum of Beam’s platform, with predictable clinical translation across four distinct programs and multiple potentially transformative medicines advancing toward patients, bringing our vision for a new era of genetic medicine increasingly within reach,” said John Evans, chief executive officer of Beam Therapeutics. “We are approaching a potential first BLA filing with risto-cel as early as the end of this year, and the pivotal cohort for BEAM-302 is rapidly advancing with completion of dosing expected in the first half of 2027. Recently, initial BEAM-301 clinical trial data showed exciting early evidence of clinical activity and provided further clinical validation of our in vivo LNP platform. Together with the planned initiation of BEAM-304 dosing in early 2027, these milestones reinforce our confidence in a platform designed to translate predictably, carry knowledge forward from one program to the next, and progressively expand the number of patients who can benefit from base editing.”

Third Quarter 2026 and Recent Progress and Anticipated Milestones

Liver-targeted Genetic Diseases

BEAM-302: BEAM-302, Beam’s lead genetic disease program, is an investigational base editing therapy designed to be a differentiated, first-in-class liver-targeting therapy for alpha-1 antitrypsin deficiency (AATD) that directly corrects the root cause of the disease and has the potential to address both liver and lung manifestations.

• In September, Beam presented updated clinical data from the Phase 1/2 trial of BEAM-302 at the European Respiratory Society (ERS) Congress 2026, reinforcing its potential as a one-time treatment for both the lung and liver manifestations of AATD. With up to 18 months of follow-up, the data demonstrated durable increases in total and functional AAT, decreased circulating neutrophil elastase activity, and reductions in mutant Z-AAT and toxic circulating Z-polymers following a single dose. Evidence of AAT production under normal physiological control further supports BEAM-302’s potential to restore the body’s natural protective response, with a safety profile consistent with lipid nanoparticle (LNP)-based therapies.
• Enrollment and dosing continue in the global pivotal cohort of the ongoing Phase 1/2 trial, which is designed to support a potential accelerated approval path in the United States. The company expects to complete dosing in the pivotal cohort in the first half of 2027.

BEAM-304: BEAM-304 is an investigational base editing program designed to leverage Beam’s proprietary base editing technology and LNP delivery capabilities to directly and durably correct mutations in the phenylalanine hydroxylase (PAH) gene that cause phenylketonuria (PKU). Beam aims to advance BEAM-304 using a platform approach to develop mutation-specific base editors for the majority of patients with PKU.

• Beam nominated its third base editor within the BEAM-304 program targeting a third undisclosed PKU mutation. Now encompassing three different base editors for distinct mutations, the company believes the BEAM-304 program has the potential to address up to 50% of PKU patients in the U.S., with ongoing research effort to address additional pathogenic mutations.
• Beam continues clinical start-up activities for the planned Phase 1/2 trial of BEAM-304. The trial will initially evaluate safety, tolerability and reduction of blood phenylalanine (Phe) levels in patients with the R408W mutation, with the goal of establishing clinical proof of concept for base editing in PKU. The trial is designed to subsequently evaluate base editors for additional mutations within a single clinical program. Beam expects to initiate dosing in the Phase 1/2 trial in early 2027.

BEAM-301: BEAM-301, an investigational base editing therapy, aims to correct one of the most common disease-causing mutations, R83C, in patients with glycogen storage disease type Ia (GSDIa).

• In October, Beam presented initial clinical data from the ongoing Phase 1/2 trial of BEAM-301 at the European Society of Gene & Cell Therapy (ESGCT) Congress. Initial BEAM-301 clinical data demonstrated dose-dependent improvements in time to fasting hypoglycemia (TTH) across all patients, with two of three patients in the 40 mg cohort achieving the protocol-defined maximum controlled fasting duration of 15 hours, consistent with restored endogenous glucose production, and complete elimination of starch supplementation. BEAM-301 demonstrated an acceptable safety profile across both doses, consistent with the known risks associated with LNP-based therapies​.
• Based on the safety and clinical findings observed to date, Beam is enrolling patients in a 60 mg cohort of the ongoing open-label Phase 1/2 dose-exploration study and plans to engage with the U.S. FDA regarding a potential path to approval.

Hematology

Risto-cel: Ristoglogene autogetemcel (risto-cel, formerly known as BEAM-101) is an investigational autologous cell therapy with a potentially differentiated profile for the treatment of sickle cell disease (SCD). 

• Beam expects to report updated clinical data by year-end 2026 and submit a U.S. biologics license application (BLA) for risto-cel as early as year-end 2026.
  

Next-generation Programs in Sickle Cell Disease and Hematology:

• Beam continues to make significant investments in developing targeted LNPs to deliver gene editing to hematopoietic stem cells (HSCs). Targeted LNPs for HSC delivery have been identified and are in advanced lead optimization.
  

Corporate Updates

• In September, Beam appointed Eric Foster as chief commercial officer to lead the company’s commercial organization and strategy as its hematology and genetic disease programs advance toward potential launches. Mr. Foster is a seasoned biopharmaceutical executive with more than 25 years of commercial leadership experience, including senior roles at Ardelyx, Horizon Therapeutics, and GSK.
  

Upcoming Events
Beam management will participate in fireside chats at the following upcoming investor events:

• Guggenheim 3^rd Annual Healthcare Innovation Conference in Boston:
  Tuesday, November 10, 2026, at 9:00 a.m. ET.

• UBS Global Biopharma Conference in London:
  Tuesday, November 17, 2026, at 2:00 p.m. GMT.

• Jefferies Global Healthcare Conference in London:
  Wednesday, November 18, 2026, at 1:00 p.m. GMT.

• 9^th Annual Evercore Healthcare Conference in Miami:
  Wednesday, December 2, 2026, at 8:20 a.m. ET.

The live webcasts will be available in the investor section of the company’s website at www.beamtx.com and will be archived for 60 days following each presentation.

Third Quarter 2026 Financial Results

• Cash Position: Cash, cash equivalents and marketable securities were $1.0 billion as of September 30, 2026, compared to $1.2 billion as of December 31, 2025.
• Research & Development (R&D) Expenses: R&D expenses were $110.1 million for the third quarter of 2026, compared to $109.8 million for the third quarter of 2025.
• General & Administrative (G&A) Expenses: G&A expenses were $31.5 million for the third quarter of 2026, compared to $26.7 million for the third quarter of 2025.
• Net Income (Loss): Net loss was $134.4 million, or $1.28 per share, for the third quarter of 2026, compared to net loss of $112.6 million, or $1.10 per share, for the third quarter of 2025.

Cash Runway

Beam expects that its cash, cash equivalents and marketable securities as of September 30, 2026, together with an additional $200 million expected to be drawn from the company’s facility with Sixth Street, will fund anticipated operating expenses and capital expenditure requirements into mid-2029, assuming satisfaction of the conditions applicable to those additional borrowings. This runway is expected to support the company through the potential launch of risto-cel in SCD, execution of the BEAM-302 pivotal development plan in AATD, and clinical proof of concept for BEAM-304 in PKU.

About Beam Therapeutics
Beam Therapeutics (Nasdaq: BEAM) is a biotechnology company committed to establishing the leading, fully integrated platform for precision genetic medicines. To achieve this vision, Beam has assembled a platform with integrated gene editing, delivery and internal manufacturing capabilities. Beam’s suite of gene editing technologies is anchored by base editing, a proprietary technology that is designed to enable precise, predictable and efficient single base changes, at targeted genomic sequences, without making double-stranded breaks in the DNA. This has the potential to enable a wide range of therapeutic editing strategies that Beam is using to advance a diversified portfolio of base editing programs. Beam is a values-driven organization committed to its people, cutting-edge science, and a vision of providing lifelong cures to patients suffering from serious diseases.

Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned not to place undue reliance on these forward-looking statements, including, but not limited to, statements related to: the therapeutic applications and potential of our technology, including with respect to SCD, AATD, PKU and GSDIa, and our next-generation programs, including our development of targeted LNPs for hematopoietic stem cell delivery; our plans, and anticipated timing, to advance our programs and present data from ongoing clinical trials; the clinical trial designs and expectations for risto-cel, BEAM-103, BEAM-301, BEAM-302 and BEAM-304, including the anticipated timing of clinical trial initiation and expansion; our planned submission of a BLA for risto-cel; our expectations regarding the potential launch of risto-cel; the potential for an accelerated approval path for BEAM-302; our anticipated regulatory interactions and filings; our expectations regarding the funds that will be available to draw under our credit facility with Sixth Street; the sufficiency of our capital resources to fund operating expenses and capital expenditure requirements and the period in which such resources are expected to be available; our intentions regarding management’s participation in future investor events; and our ability to develop lifelong, curative, precision genetic medicines for patients through base editing. Each forward-looking statement is subject to important risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statement, including, without limitation, risks and uncertainties related to: our ability to develop, obtain regulatory approval for, and commercialize our product candidates, which may take longer or cost more than planned; our ability to raise additional funding, which may not be available; our ability to obtain, maintain and enforce patent and other intellectual property protection for our product candidates; the uncertainty that our product candidates will receive regulatory approval necessary to initiate or continue human clinical trials; that preclinical testing of our product candidates and preliminary or interim data from preclinical studies and clinical trials may not be predictive of the results or success of ongoing or later clinical trials; that initiation and enrollment of, and anticipated timing to advance, our clinical trials may take longer than expected; that our product candidates, including the delivery modalities we rely on to administer them, may cause serious adverse events; that we may not achieve the funding milestones under our credit facility with Sixth Street; that our product candidates may experience manufacturing or supply interruptions or failures; risks related to competitive products; and the other risks and uncertainties identified under the headings “Risk Factors Summary” and “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, and in any subsequent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date of this press release. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by applicable law.

Contacts: 
Investors:
Holly Manning
Beam Therapeutics
hmanning@beamtx.com

Media:
Josie Butler
1AB
josie@1abmedia.com

Condensed Consolidated Balance Sheet Data (unaudited)
(in thousands)
		September 30, 2026				December 31, 2025
Cash, cash equivalents, and marketable securities		$	1,043,873			$	1,245,210
Total assets			1,269,072				1,481,177
Total liabilities			316,398				242,819
Total stockholders’ equity			952,674				1,238,358

Condensed Consolidated Statement of Operations (unaudited)
(in thousands, except share and per share data)
		Three Months Ended September 30,								Nine Months Ended September 30,
		2026				2025				2026				2025
License and collaboration revenue		$	307			$	9,698			$	32,535			$	25,634
Operating expenses:
Research and development			110,110				109,769				309,730				310,343
General and administrative			31,519				26,740				97,895				81,539
Total operating expenses			141,629				136,509				407,625				391,882
Loss from operations			(141,322	)			(126,811	)			(375,090	)			(366,248	)
Other income (expense):
Change in fair value of derivative liabilities			4,700				(2,600	)			3,000				1,900
Change in fair value of non-controlling equity investments			(1,021	)			4,937				(667	)			7,271
Change in fair value of contingent consideration liabilities			(2,856	)			1,000				(2,547	)			945
Gain on sale of equity method investment			—				—				455				—
Interest and other income (expense), net			6,094				10,903				23,448				33,093
Total other income (expense)			6,917				14,240				23,689				43,209
Net loss		$	(134,405	)		$	(112,571	)		$	(351,401	)		$	(323,039	)
Unrealized gain (loss) on marketable securities			(1,245	)			780				(4,545	)			111
Comprehensive loss		$	(135,650	)		$	(111,791	)		$	(355,946	)		$	(322,928	)
Net loss per common share, basic and diluted		$	(1.28	)		$	(1.10	)		$	(3.38	)		$	(3.31	)
Weighted-average common shares outstanding, basic and diluted			104,698,517				102,570,801				104,100,991				97,567,229

  

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were Beam Therapeutics’ third-quarter 2026 financial results?

Beam reported a $134.405 million net loss, or $1.28 per share, compared with a $112.571 million loss, or $1.10 per share, a year earlier. License and collaboration revenue was $307,000, compared with $9.698 million in the third quarter of 2025.

When does Beam expect to submit the risto-cel approval application?

Beam expects to submit a U.S. biologics license application as early as year-end 2026 for risto-cel in sickle cell disease. Updated clinical data are expected by year-end 2026.

What will Beam Therapeutics’ BEAM-304 Phase 1/2 trial evaluate?

The trial will initially evaluate safety, tolerability and reductions in blood phenylalanine in patients with the R408W mutation causing phenylketonuria. Its goal is to establish clinical proof of concept for base editing in the disease. The design allows subsequent evaluation of base editors for additional mutations within the same clinical program.

What approval pathway is Beam pursuing for BEAM-302?

The global pivotal cohort within the ongoing Phase 1/2 trial is designed to support a potential accelerated approval pathway in the United States. Enrollment and dosing continue; the pathway remains potential rather than an achieved regulatory outcome.