Beam Therapeutics Q3 loss widens to $134M
Beam says its three mutation-specific BEAM-304 editors could address up to 50% of U.S. patients with PKU.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Filing Summary
Beam Therapeutics Inc. (BEAM) reported third-quarter 2026 results and clinical updates. License and collaboration revenue was $307,000, versus $9,698,000 in the third quarter of 2025; net loss was $134,405,000, or $1.28 per share, versus $112,571,000, or $1.10 per share.
Cash, cash equivalents and marketable securities were $1,043,873,000 as of September 30, 2026, compared with $1,245,210,000 as of December 31, 2025. The company expects those resources plus $200 million expected to be drawn from its Sixth Street facility to fund anticipated operating expenses and capital expenditures into mid-2029, assuming applicable borrowing conditions are satisfied.
Initial BEAM-301 Phase 1/2 data included two of three patients in the 40 mg cohort achieving the protocol-defined maximum controlled fasting duration of at least 15 hours; the company also reported complete elimination of starch supplementation. Beam expects to submit a U.S. BLA for risto-cel as early as year-end 2026, complete BEAM-302 pivotal-cohort dosing in the first half of 2027, and initiate BEAM-304 Phase 1/2 dosing in early 2027.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- None.
Negative
- Moderate pointThird-quarter net loss rose to $134,405,000 from $112,571,000 in 2025.
- Minor pointThird-quarter license and collaboration revenue fell to $307,000 from $9,698,000 in 2025.
Filing Explained
Beam has nominated a third BEAM-304 base editor for a distinct, undisclosed PKU mutation; the program now includes three mutation-specific editors, and the company says it may have the potential to address up to 50% of PKU patients in the U.S.
8-K Event Classification
Key Figures
Key Terms
base editing technical
lipid nanoparticle (LNP)-based therapies technical
accelerated approval path regulatory
Biologics license application (BLA) regulatory
endogenous glucose production medical
Earnings Snapshot
Cash, cash equivalents and marketable securities as of September 30, 2026, together with $200 million expected to be drawn from the Sixth Street facility, are expected to fund anticipated operating expenses and capital expenditure requirements into mid-2029, assuming satisfaction of the conditions applicable to those additional borrowings.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were BEAM's third-quarter 2026 financial results?
How long does BEAM expect its cash to last?
What will BEAM-304's initial clinical trial evaluate?
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act: |
Title of each class |
Trading Symbol(s) |
Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On November 3, 2026, the Company issued a press release announcing its financial results for the quarter ended September 30, 2026. A copy of this press release is furnished as Exhibit 99.1 and is incorporated herein by reference.
The information in this Item 2.02 as well as in the accompanying Exhibit 99.1 attached hereto is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing by the Company, under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
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Description |
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99.1 |
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Press Release Issued by Beam Therapeutics Inc. on November 3, 2026 |
104 |
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Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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BEAM THERAPEUTICS INC. |
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Date: November 3, 2026 |
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/s/ John Evans |
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Name: |
John Evans |
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Title: |
Chief Executive Officer |
Exhibit 99.1
Beam Therapeutics Reports Third Quarter 2026 Financial Results and Highlights Clinical Progress Across Base Editing Portfolio
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., November 3, 2026 – 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.
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-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).
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).
Next-generation Programs in Sickle Cell Disease and Hematology:
Corporate Updates
Upcoming Events
Beam management will participate in fireside chats at the following upcoming investor events:
Tuesday, November 10, 2026, at 9:00 a.m. ET.
Tuesday, November 17, 2026, at 2:00 p.m. GMT.
Wednesday, November 18, 2026, at 1:00 p.m. GMT.
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 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) |
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(in thousands) |
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September 30, |
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December 31, |
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Cash, cash equivalents, and marketable securities |
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$ |
1,043,873 |
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$ |
1,245,210 |
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Total assets |
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1,269,072 |
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1,481,177 |
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Total liabilities |
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316,398 |
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242,819 |
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Total stockholders’ equity |
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952,674 |
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1,238,358 |
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Condensed Consolidated Statement of Operations (unaudited) |
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(in thousands, except share and per share data) |
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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License and collaboration revenue |
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$ |
307 |
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$ |
9,698 |
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$ |
32,535 |
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$ |
25,634 |
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Operating expenses: |
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Research and development |
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110,110 |
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109,769 |
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309,730 |
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310,343 |
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General and administrative |
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31,519 |
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26,740 |
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97,895 |
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81,539 |
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Total operating expenses |
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141,629 |
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136,509 |
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407,625 |
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391,882 |
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Loss from operations |
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(141,322 |
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(126,811 |
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(375,090 |
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(366,248 |
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Other income (expense): |
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Change in fair value of derivative liabilities |
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4,700 |
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(2,600 |
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3,000 |
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1,900 |
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Change in fair value of non-controlling equity investments |
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(1,021 |
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4,937 |
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(667 |
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7,271 |
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Change in fair value of contingent consideration liabilities |
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(2,856 |
) |
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1,000 |
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(2,547 |
) |
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945 |
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Gain on sale of equity method investment |
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— |
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— |
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455 |
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— |
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Interest and other income (expense), net |
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6,094 |
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10,903 |
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23,448 |
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33,093 |
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Total other income (expense) |
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6,917 |
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14,240 |
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23,689 |
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43,209 |
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Net loss |
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$ |
(134,405 |
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$ |
(112,571 |
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$ |
(351,401 |
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$ |
(323,039 |
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Unrealized gain (loss) on marketable securities |
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(1,245 |
) |
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780 |
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(4,545 |
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111 |
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Comprehensive loss |
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$ |
(135,650 |
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$ |
(111,791 |
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$ |
(355,946 |
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$ |
(322,928 |
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Net loss per common share, basic and diluted |
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$ |
(1.28 |
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$ |
(1.10 |
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$ |
(3.38 |
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$ |
(3.31 |
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Weighted-average common shares outstanding, basic and diluted |
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104,698,517 |
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102,570,801 |
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104,100,991 |
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97,567,229 |
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