BEAM Beam Therapeutics Inc.

95.57
+3.26  (+4%)
Previous Close 92.31
Open 93
52 Week Low 18.76
52 Week High 138.5219
Market Cap $6,257,300,484
Shares 65,473,480
Float 42,443,925
Enterprise Value $5,656,674,160
Volume 449,890
Av. Daily Volume 837,975
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  1. CAMBRIDGE, Mass., Aug. 03, 2021 (GLOBE NEWSWIRE) -- Beam Therapeutics Inc. (NASDAQ:BEAM), a biotechnology company developing precision genetic medicines through base editing, today announced that Giuseppe Ciaramella, Ph.D., president and chief scientific officer of Beam, will participate in a panel titled, "So Let it Be (Re)Written - Updates in Gene Modulation" during the 2021 Wedbush PacGrow Healthcare Conference on Tuesday, Aug. 10, 2021 at 9:10 a.m. ET.

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

    About Beam Therapeutics

    Beam Therapeutics (NASDAQ:BEAM) is a biotechnology company committed to establishing the…

    CAMBRIDGE, Mass., Aug. 03, 2021 (GLOBE NEWSWIRE) -- Beam Therapeutics Inc. (NASDAQ:BEAM), a biotechnology company developing precision genetic medicines through base editing, today announced that Giuseppe Ciaramella, Ph.D., president and chief scientific officer of Beam, will participate in a panel titled, "So Let it Be (Re)Written - Updates in Gene Modulation" during the 2021 Wedbush PacGrow Healthcare Conference on Tuesday, Aug. 10, 2021 at 9:10 a.m. ET.

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

    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 that includes a suite of gene editing and delivery technologies and is in the process of building internal manufacturing capabilities. Beam's suite of gene editing technologies is anchored by base editing, a proprietary technology that enables precise, predictable and efficient single base changes, at targeted genomic sequences, without making double-stranded breaks in the DNA. This enables a wide range of potential 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 life-long cures to patients suffering from serious diseases.

    Contacts:

    Investors:

    Chelcie Lister

    THRUST Strategic Communications

    Media:

    Dan Budwick

    1AB



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  2. CAMBRIDGE, Mass., July 08, 2021 (GLOBE NEWSWIRE) -- Beam Therapeutics Inc. (NASDAQ:BEAM), a biotechnology company developing precision genetic medicines through base editing, today announced that John Evans, chief executive officer, will participate in a fireside chat during the 2021 William Blair Biotech Focus Conference on Thursday, July 15, 2021 at 1:00 p.m. ET.

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

    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…

    CAMBRIDGE, Mass., July 08, 2021 (GLOBE NEWSWIRE) -- Beam Therapeutics Inc. (NASDAQ:BEAM), a biotechnology company developing precision genetic medicines through base editing, today announced that John Evans, chief executive officer, will participate in a fireside chat during the 2021 William Blair Biotech Focus Conference on Thursday, July 15, 2021 at 1:00 p.m. ET.

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

    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 that includes a suite of gene editing and delivery technologies and is in the process of building internal manufacturing capabilities. Beam's suite of gene editing technologies is anchored by base editing, a proprietary technology that enables precise, predictable and efficient single base changes, at targeted genomic sequences, without making double-stranded breaks in the DNA. This enables a wide range of potential 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 life-long cures to patients suffering from serious diseases.

    Contacts:

    Investors:

    Chelcie Lister

    THRUST Strategic Communications

    Media:

    Dan Budwick

    1AB



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  3. Collaboration combines Apellis' expertise in complement, a complex biological system, with Beam's proprietary base editing platform

    Companies will collaborate on six research programs directed to tissues modulated by the complement system, including the eye, liver, and brain

    WALTHAM, Mass. and CAMBRIDGE, Mass., June 30, 2021 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) and Beam Therapeutics Inc. (NASDAQ:BEAM) today announced an exclusive five-year research collaboration focused on the use of Beam's proprietary base editing technology to discover new treatments for complement-driven diseases. The companies will collaborate on six research programs focused on C3 and other complement targets in the eye, liver, and brain…

    Collaboration combines Apellis' expertise in complement, a complex biological system, with Beam's proprietary base editing platform

    Companies will collaborate on six research programs directed to tissues modulated by the complement system, including the eye, liver, and brain

    WALTHAM, Mass. and CAMBRIDGE, Mass., June 30, 2021 (GLOBE NEWSWIRE) -- Apellis Pharmaceuticals, Inc. (NASDAQ:APLS) and Beam Therapeutics Inc. (NASDAQ:BEAM) today announced an exclusive five-year research collaboration focused on the use of Beam's proprietary base editing technology to discover new treatments for complement-driven diseases. The companies will collaborate on six research programs focused on C3 and other complement targets in the eye, liver, and brain.

    "Beam has pioneered base editing, which holds significant promise as a best-in-class technology for precision gene editing. This collaboration builds on our deep scientific expertise in complement and, together with our growing pipeline, positions Apellis for long-term leadership in the complement field," said Cedric Francois, M.D., Ph.D., co-founder and chief executive officer, Apellis. "Apellis and Beam share a vision for advancing transformative medicines for patients, which is critically important as we embark on a highly innovative effort to modulate complement and discover new treatments across a wide range of debilitating diseases."

    Base editing represents a potential new class of precision genetic medicine that uses a chemical reaction designed to create precise, predictable, and efficient single base changes at targeted genomic sequences without making double-stranded breaks in the DNA. Editing key elements of the complement pathway in target organs has the potential to alter the complement cascade and durably address diseases driven by abnormal complement activity.

    "Apellis has established itself as a leader in complement with the advancement of compelling targeted C3 therapies," said John Evans, chief executive officer, Beam. "This collaboration allows us to combine our proprietary technologies and capabilities in base editing with Apellis' expertise in targeting the complement pathway to develop new medicines for diseases driven by complement biology. This also represents an important strategic initiative to explore opportunities that expand the application of base editing to address more biologically complex diseases for patients in need of new treatment options."

    Under the terms of the collaboration agreement, Beam will apply its base editing technology and conduct preclinical research on up to six base editing programs that target specific genes within the complement system in various organs, including the eye, liver, and brain. Apellis will have exclusive rights to license each of the six programs and will assume responsibility for subsequent development. Beam may elect to enter a 50-50 U.S. co-development and co-commercialization agreement with Apellis with respect to one program licensed under the collaboration.

    As part of the collaboration, Beam will receive a total of $75 million in upfront and near-term milestones from Apellis – $50 million upon signing and an additional $25 million payment on the one-year anniversary of the contract execution date. After exercise of the opt-in license rights for each of the up to six programs, Beam will be eligible to receive development, regulatory, and sales milestones from Apellis, as well as royalty payments on sales. The collaboration has an initial term of five years and may be extended up to two years on a per year and program-by-program basis.

    About Apellis 

    Apellis Pharmaceuticals, Inc. is a global biopharmaceutical company that is committed to leveraging courageous science, creativity, and compassion to deliver life-changing therapies. Leaders in targeted C3 therapies, we aim to develop transformative therapies for a broad range of debilitating diseases that are driven by excessive activation of the complement cascade, including those within hematology, ophthalmology, nephrology, and neurology. For more information, please visit https://www.apellis.com.

    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 that includes a suite of gene editing and delivery technologies and is in the process of building internal manufacturing capabilities. Beam's suite of gene editing technologies is anchored by base editing, a proprietary technology that enables precise, predictable and efficient single base changes, at targeted genomic sequences, without making double-stranded breaks in the DNA. This enables a wide range of potential 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 life-long cures to patients suffering from serious diseases.

    Apellis Forward-Looking Statement 

    Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of The Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements in respect of the expected closing of the exchanges. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: whether the research collaboration will result in programs that are licensed by Apellis; whether any product candidates that arise from these programs or are otherwise developed by Apellis will advance into clinical trials or through the clinical trial process on a timely basis or at all; whether the results of clinical trials of the company's product candidates will warrant submissions for regulatory approval or regulatory approval; whether any products that receive regulatory approval will be successfully distributed and marketed; and other factors discussed in the "Risk Factors" section of Apellis' Quarterly Report on Form 10-Q with the Securities and Exchange Commission on April 28, 2021 and the risks described in other filings that Apellis may make with the Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof, and Apellis specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

    Beam Forward-Looking Statement 

    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 our ability to develop life-long, curative, precision genetic medicines for patients through base editing. Each forward-looking statement is subject to 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 raise additional funding, which may not be available; our ability to obtain, maintain and enforce patent and other intellectual property protection for our platform technology; the potential impact of the COVID-19 pandemic; risks related to competitive products; and the other risks and uncertainties identified under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2020, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, and in any subsequent filings with the Securities and Exchange Commission. These forward-looking statements (except as otherwise noted) 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:



    Apellis:



    Media:

    Lissa Pavluk



    617.977.6764

    Investors: 

    Argot Partners 



    212.600.1902

    Beam Therapeutics:

    Media:

    Dan Budwick

    1AB

    Investors:

    Chelcie Lister

    THRUST Strategic Communications



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  4. CAMBRIDGE, Mass., May 25, 2021 (GLOBE NEWSWIRE) -- Beam Therapeutics Inc. (NASDAQ:BEAM), a biotechnology company developing precision genetic medicines through base editing, today announced that John Evans, chief executive officer, will participate in a fireside chat during the 2021 Jefferies Virtual Healthcare Conference on Tuesday, June 1, 2021 at 9:30 a.m. ET.

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

    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…

    CAMBRIDGE, Mass., May 25, 2021 (GLOBE NEWSWIRE) -- Beam Therapeutics Inc. (NASDAQ:BEAM), a biotechnology company developing precision genetic medicines through base editing, today announced that John Evans, chief executive officer, will participate in a fireside chat during the 2021 Jefferies Virtual Healthcare Conference on Tuesday, June 1, 2021 at 9:30 a.m. ET.

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

    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 that includes a suite of gene editing and delivery technologies and is in the process of building internal manufacturing capabilities. Beam's suite of gene editing technologies is anchored by base editing, a proprietary technology that enables precise, predictable and efficient single base changes, at targeted genomic sequences, without making double-stranded breaks in the DNA. This enables a wide range of potential 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 life-long cures to patients suffering from serious diseases.

    Contacts:

    Investors:

    Chelcie Lister

    THRUST Strategic Communications

    Media:

    Dan Budwick

    1AB



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  5. Data from Beam's Novel LNP-mRNA Formulation Demonstrates In Vivo Editing in Liver Cells of Non-human Primates Up to 52%

    Company On-track to Submit First IND for BEAM-101 in the Second Half of 2021

    CAMBRIDGE, Mass., May 11, 2021 (GLOBE NEWSWIRE) -- Beam Therapeutics Inc. (NASDAQ:BEAM), a biotechnology company developing precision genetic medicines through base editing, today reported recent business highlights and pipeline updates, as well as first quarter 2021 financial results.

    "As Beam prepares to enter the clinic, we also continue to extend our leadership position in the field of base editing by expanding our platform and delivery capabilities," said John Evans, chief executive officer of Beam. "The data presented at ASGCT on our proprietary…

    Data from Beam's Novel LNP-mRNA Formulation Demonstrates In Vivo Editing in Liver Cells of Non-human Primates Up to 52%

    Company On-track to Submit First IND for BEAM-101 in the Second Half of 2021

    CAMBRIDGE, Mass., May 11, 2021 (GLOBE NEWSWIRE) -- Beam Therapeutics Inc. (NASDAQ:BEAM), a biotechnology company developing precision genetic medicines through base editing, today reported recent business highlights and pipeline updates, as well as first quarter 2021 financial results.

    "As Beam prepares to enter the clinic, we also continue to extend our leadership position in the field of base editing by expanding our platform and delivery capabilities," said John Evans, chief executive officer of Beam. "The data presented at ASGCT on our proprietary lipid nanoparticle (LNP) formulation show efficient in vivo base editing in hepatocytes of non-human primates (NHPs), while our novel analytical assays confirm specificity and efficiency of base editing to directly correct disease-causing mutations. As we look to the rest of 2021, we are on-track with our plans to submit our first Investigational New Drug (IND) application for BEAM-101 and initiate IND-enabling studies for BEAM-102 and BEAM-201, as well as nominate our first development candidate from our liver portfolio. We are well positioned today to advance our base editing platform and pipeline and remain focused on achieving our vision of providing life-long cures for patients suffering from serious diseases."

    "We are pleased to share our development of a proprietary LNP formulation for non-viral in vivo delivery to the liver at ASGCT," said Giuseppe Ciaramella, Ph.D., president and chief scientific officer of Beam. "These data demonstrate that our LNPs are well tolerated in NHPs and can achieve levels of editing of hepatocytes that we expect would be therapeutic for many genetic diseases. Initial data also demonstrated the stability of our LNPs at -20 degrees Celsius after 8 weeks, which is important for enabling broad clinical and commercial development. We are continuing to work on optimizing our LNP formulations and are on track to nominate our first development candidate from our liver portfolio in the second half of 2021."

    Base Editing Progress

    • Data Demonstrating Optimization of LNP-mRNA Formulation for Liver Editing Presented at the 24th American Society of Gene and Cell Therapy (ASGCT) Annual Meeting: Beam's approach to developing a novel lipid nanoparticle (LNP) formulation for in vivo liver editing will be presented during a poster session titled, "Using Base Editing and LNP Delivery to Correct Disease-Causing Mutations Underlying Genetic Liver Diseases" at ASGCT. Using an mRNA-encoding adenine base editor (ABE) and guide RNA to target the ALAS1 gene, a surrogate payload for genetic liver diseases, Beam evaluated various LNP formulations and mRNA production processes to improve in vivo editing in the livers of NHPs from less than 10% initially to 52% at a total RNA dose of 1.5 mg/kg. These formulations were also well tolerated by NHPs at 1.5 mg/kg with mild and transient liver enzyme elevations, and showed promising interim stability, maintaining potency after 8 weeks at -20⁰C.
    • Data Highlighting Beam's Approach to Confirming Precision Correction Using Novel Analytical Assays Presented at ASGCT: Base editing is emerging as a powerful next-generation editing technology; however, developing adequate analytical assays to confirm precise base editing at the protein level is critical and has proven historically challenging. In an oral presentation at ASGCT titled, "LC-MS Confirmation of Single Amino Acid Correction by Base Editing," Beam will describe its approach to using liquid chromatography mass spectrometry (LC-MS) for multiple analytical assays to confirm the precise correction of disease-causing mutations at the amino acid level, providing a unique solution for confirmation and quantitation of single amino acid corrections after base editing.
    • Data Highlighting Ability to Rationally Design Base Editors for Precise Editing Published in The CRISPR Journal: In April 2021, work describing Beam's approach to developing inlaid base editors (IBEs) was published in The CRISPR Journal. IBEs are architectural variants of base editors that demonstrate enhanced specificity and altered activity windows relative to foundational base editors. The work highlights Beam's application of its IBEs for BEAM-102, one of its base editing programs in development for the treatment of sickle cell disease.

    First Quarter 2021 Financial Results

    • Cash Position: Cash, cash equivalents and marketable securities were $503.5 million as of March 31, 2021, compared to $253.4 million as of March 31, 2020.
    • Research & Development (R&D) Expenses: R&D expenses were $190.1 million for the first quarter of 2021, compared to $21.5 million for the first quarter of 2020. R&D expenses for the first quarter of 2021 includes $155.0 million of expense related to in-process research and development acquired from of Guide Therapeutics, Inc.
    • General & Administrative (G&A) Expenses: G&A expenses were $10.3 million for the first quarter of 2021, compared to $6.8 million for the first quarter of 2020.
    • Net Loss: Net loss attributable to common stockholders was $201.6 million, or $3.35 per share, for the first quarter of 2021, compared to $31.7 million, or $1.03 per share, for the first quarter of 2020.

    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 that includes a suite of gene editing and delivery technologies and is in the process of building internal manufacturing capabilities. Beam's suite of gene editing technologies is anchored by base editing, a proprietary technology that enables precise, predictable and efficient single base changes, at targeted genomic sequences, without making double-stranded breaks in the DNA. This enables a wide range of potential 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 life-long cures to patients suffering from serious diseases.

    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: our plans for scientific publications; our plans to enter the clinic; our expected timing for filing an investigational new drug application for BEAM-101, for initiating IND-enabling studies for BEAM-102 and BEAM-201, and for nominating our first development candidate from our liver portfolio; and the therapeutic applications and potential of our technology, including our ability to develop life-long, curative, precision genetic medicines for patients through base editing. Each forward-looking statement is subject to 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 potential impact of the COVID-19 pandemic; that preclinical testing of our product candidates and preliminary or interim data from preclinical and clinical trials may not be predictive of the results or success of ongoing or later clinical trials; that enrollment of our clinical trials may take longer than expected; 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 heading "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2020, our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021, and in any subsequent filings with the Securities and Exchange Commission. These forward-looking statements (except as otherwise noted) 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:

    Chelcie Lister

    THRUST Strategic Communications

    Media:

    Dan Budwick

    1AB

    Condensed Consolidated Balance Sheet Data
    (in thousands)
         
      March 31,

    2021
     December 31,

    2020
    Cash, cash equivalents, and marketable securities $503,479  $299,671 
    Total assets  693,241   451,677 
    Total liabilities  270,812   206,116 
    Total stockholders' equity  422,429   245,561 
         
    Condensed Consolidated Statement of Operations
    (in thousands, except share and per share data)
         
      Three Months Ended March 31,
       2021   2020 
    License revenue $6  $6 
    Operating expenses:    
    Research and development  190,106   21,549 
    General and administrative  10,273   6,812 
    Total operating expenses  200,379   28,361 
    Loss from operations  200,373   (28,355)
    Other income (expense):    
    Change in fair value of derivative liabilities  (1,900)  (2,700)
    Change in fair value of contingent consideration liabilities  (305)   
    Interest and other income, net  1,018   597 
    Total other income (expense)  (1,187)  (2,103)
    Net loss $(201,560) $(30,458)
    Accretion of redeemable convertible preferred stock to redemption value, including dividends on preferred stock     (1,277)
    Net loss attributable to common stockholders $(201,560) $(31,735)
    Net loss per common share attributable to common stockholders, basic and diluted $(3.35) $(1.03)
    Weighted-average common shares used in net loss per share attributable to common stockholders, basic and diluted  60,210,120   30,725,077 
             


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