Editas Medicine (EDIT) reported earnings on Thu 6 Aug 20 (a/h)

** charts before earnings **

a) Aug. 3: vol. 1.1M $31 -->  +20%

 

** charts after earnings **

Editas Medicine beats by $0.39, beats on revs; provides update; Regains full control of ocular medicines under new agreement with AbbVie
Reports Q2 (Jun) loss of $0.43 per share, $0.39 better than the S&P Capital IQ Consensus of ($0.82); revenues rose 361.3% year/year to $10.75 mln vs the $6.34 mln S&P Capital IQ Consensus.

• Regained full control of ocular medicines under new agreement with AbbVie (ABBV).
• BRILLIANCE trial for EDIT-101 on track to dose at least three patients by end of 2020.
• Plan to file IND for EDIT-301 for sickle cell disease by end of 2020.

Editas Medicine regains full global rights to research, develop, manufacture, and commercialize its ocular medicines, including EDIT-101 for the treatment of Leber congenital amaurosis 10

• These medicines were previously shared within a strategic research and development alliance with Allergan, which has since been acquired by AbbVie. Editas Medicine and AbbVie have terminated the original agreement and entered into a new agreement.
• J.P. Morgan Securities LLC is serving as exclusive financial advisor to Editas Medicine.

Editas Medicine (EDIT) began trading on the Nasdaq on 3 Feb 2016

Editas Medicine is a clinical stage genome editing company. The company is a leader in the nascent field of direct gene editing using CRISPR/Cas9 which has the potential to cure many inherited diseases.

• Sector: Healthcare
• Industry: Biotechnology
• Full Time Employees: 208
• http://www.editasmedicine.com
• Founded in 2013 
• Headquartered in Cambridge, Massachusetts.

Editas priced 5.9M shares at $16, bottom of indicated range of $16-18.