The market has nearly abandoned many of the biotech start-ups it funded in the excitement of the first Covid vaccines in 2021, leaving the pioneers of an elegant approach to editing genes known as base-editing in the castoff pile.Beam Therapeutics , was the first to get rights to the technology, a less disruptive variant of the Nobel Prize-winning Crispr gene-editing approach. Its stock neared $140 in June 2021 as it targeted cancer and sickle cell disease.
Most gene-editing techniques can zero in on a troublesome stretch of our DNA and knock it out by snipping the molecule’s double strands. That is the method being tested in clinical trials by Crispr pioneers like Intellia Therapeutics , Crispr Therapeutics , and Editas Medicine as they disable the faulty genes that cause sickle cell anemia and other inherited diseases.
Beam said the winnowing will leave it enough cash to last into 2026. The company had $1.1 billion on its balance sheet as of June. William Blair analyst Sami Corwin expects Beam to report a loss of about $350 million this year, or $4.47 a share.
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