GRPH Graphite Bio Inc.

12.3
-0.39  -3%
Previous Close 12.69
Open 12.62
52 Week Low 11.72
52 Week High 34
Market Cap $714,371,725
Shares 58,079,002
Float 29,427,290
Enterprise Value $751,418,125
Volume 54,548
Av. Daily Volume 329,131
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GPH101 (CEDAR)
Sickle Cell Disease
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Latest News

  1. Graphite Bio, Inc. (NASDAQ:GRPH), a clinical-stage, next-generation gene editing company focused on therapies that harness targeted gene integration to treat or cure serious diseases, announced today that members of the management team will participate in a fireside chat at the Jefferies Gene Therapy/Editing Summit on Thursday, Oct. 28, 2021, at 4:30 p.m. ET.

    The fireside chat will be webcast live from Graphite Bio's website at www.graphitebio.com in the Investors section. A replay of the webcast will be archived and available for one month following the event.

    About Graphite Bio

    Graphite Bio is a clinical-stage, next-generation gene editing company harnessing high efficiency targeted gene integration to develop a new class of therapies…

    Graphite Bio, Inc. (NASDAQ:GRPH), a clinical-stage, next-generation gene editing company focused on therapies that harness targeted gene integration to treat or cure serious diseases, announced today that members of the management team will participate in a fireside chat at the Jefferies Gene Therapy/Editing Summit on Thursday, Oct. 28, 2021, at 4:30 p.m. ET.

    The fireside chat will be webcast live from Graphite Bio's website at www.graphitebio.com in the Investors section. A replay of the webcast will be archived and available for one month following the event.

    About Graphite Bio

    Graphite Bio is a clinical-stage, next-generation gene editing company harnessing high efficiency targeted gene integration to develop a new class of therapies to potentially cure a wide range of serious and life-threatening diseases. Graphite Bio is pioneering a precision gene editing approach that could enable a variety of applications to transform human health through its potential to achieve one of medicine's most elusive goals: to precisely "find & replace" any gene in the genome. Graphite Bio's platform allows it to precisely correct mutations, replace entire disease-causing genes with normal genes or insert new genes into predetermined, safe locations. The company was co-founded by academic pioneers in the fields of gene editing and gene therapy, including Maria Grazia Roncarolo, M.D., and Matthew Porteus, M.D., Ph.D.

    Learn more about Graphite Bio by visiting www.graphitebio.com and following the company on LinkedIn.

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  2. Data support ability of company's gene editing platform to precisely and efficiently correct the underlying disease-causing mutation and restore adult hemoglobin expression with curative potential

    Data show minimal off-target editing using company's exclusively licensed high fidelity Cas9 and robust long-term engraftment

    Company on track to enroll first patient in Phase 1/2 CEDAR trial in 2H 2021

    Graphite Bio, Inc. (NASDAQ:GRPH), a clinical-stage, next-generation gene editing company focused on therapies that harness targeted gene integration to treat or cure serious diseases, announced today the presentation of preclinical data for GPH101, an investigational therapy designed to directly correct the genetic mutation responsible for sickle…

    Data support ability of company's gene editing platform to precisely and efficiently correct the underlying disease-causing mutation and restore adult hemoglobin expression with curative potential

    Data show minimal off-target editing using company's exclusively licensed high fidelity Cas9 and robust long-term engraftment

    Company on track to enroll first patient in Phase 1/2 CEDAR trial in 2H 2021

    Graphite Bio, Inc. (NASDAQ:GRPH), a clinical-stage, next-generation gene editing company focused on therapies that harness targeted gene integration to treat or cure serious diseases, announced today the presentation of preclinical data for GPH101, an investigational therapy designed to directly correct the genetic mutation responsible for sickle cell disease (SCD). Data were presented at the 49th Annual Sickle Cell Disease Association of America (SCDAA) National Convention in a poster presentation.

    "These positive preclinical data are foundational to our sickle cell disease program and support the evaluation of GPH101 in our Phase 1/2 CEDAR trial, for which we are on track to enroll our first patient before the end of the year," said Josh Lehrer, M.Phil., M.D., chief executive officer at Graphite Bio. "These encouraging data reinforce our belief that GPH101 has the potential to directly correct the underlying disease-causing mutation to decrease production of sickle hemoglobin and restore the expression of normal adult hemoglobin with minimal off-target editing. Gene correction has been viewed as the optimal approach to potentially cure sickle cell disease, and the preclinical data we have generated indicate we can do this precisely and efficiently and at rates that are considered potentially curative based on extensive data from patients who have undergone allogeneic stem cell transplant."

    Graphite Bio presented data establishing the reproducibility of the company's gene editing platform to generate gene-corrected hematopoietic stem cells (HSCs) for the treatment of SCD. Using Graphite Bio's gene correction platform, which uses an engineered high fidelity Cas9 to reduce off-target cleavage by 30-fold, the company was able to achieve greater than 60% of gene-corrected beta-globin alleles in vitro with minimal off-target activity. After transplant into mice, long-term engraftment (16 weeks) of gene-corrected cells in vivo was achieved, with gene correction frequencies much greater than the predicted curative threshold of 15% gene correction, which is equivalent to 20% cell correction. These correction frequencies support the potential for this approach to be equivalent or superior to allogeneic hematopoietic stem cell transplant (allo-HSCT) in restoring the expression of normal adult hemoglobin and red blood cell biology.

    Additionally, the data showed that gene-corrected red blood cells went from producing 100% sickle hemoglobin to expressing more than 90% normal adult hemoglobin. Long-term preclinical safety data revealed no evidence of abnormal hematopoiesis, genotoxicity or tumorigenicity, including no detectable chromosomal translocations. These preclinical data support Graphite Bio's CEDAR clinical trial, a Phase 1/2 study evaluating the safety, pharmacodynamics, engraftment success, gene correction rates and total hemoglobin, as well as other clinical and exploratory endpoints of GPH101 in patients with severe SCD.

    The data presented today were previously published in the June 16 edition of Science Translational Medicine. A copy of the poster presentation is available under the Publications section of the Graphite Bio website.

    About Sickle Cell Disease (SCD)

    SCD is a serious, life-threatening inherited blood disorder that affects approximately 100,000 people in the United States and millions of people around the world, making it the most prevalent monogenic disease worldwide. SCD is caused by a single mutation in the beta-globin gene that leads to red blood cells that are responsible for delivering oxygen to tissues and organs throughout the body to become misshapen, resulting in anemia, blood flow blockages, intense pain, increased risk of stroke and organ damage, and reduced life span of approximately 30 years. Despite advancements in treatment and care, progressive organ damage continues to cause early mortality and severe morbidity, highlighting the need for curative therapies.

    About GPH101

    GPH101 is an investigational next-generation gene-edited autologous hematopoietic stem cell (HSC) therapy designed to directly correct the genetic mutation that causes sickle cell disease (SCD). GPH101 is the first investigational therapy to utilize a highly differentiated gene correction approach that seeks to efficiently and precisely correct the mutation in the beta-globin gene to decrease sickle hemoglobin (HbS) production and restore normal adult hemoglobin (HbA) expression, thereby potentially curing SCD.

    Graphite Bio is evaluating GPH101 in the CEDAR trial, an open-label, multi-center Phase 1/2 clinical trial designed to assess the safety, engraftment success, gene correction rates, total hemoglobin, as well as other clinical and exploratory endpoints and pharmacodynamics in patients with severe SCD.

    About Graphite Bio

    Graphite Bio is a clinical-stage, next-generation gene editing company harnessing high efficiency targeted gene integration to develop a new class of therapies to potentially cure a wide range of serious and life-threatening diseases. Graphite Bio is pioneering a precision gene editing approach that could enable a variety of applications to transform human health through its potential to achieve one of medicine's most elusive goals: to precisely "find & replace" any gene in the genome. Graphite Bio's platform allows it to precisely correct mutations, replace entire disease-causing genes with normal genes or insert new genes into predetermined, safe locations. The company was co-founded by academic pioneers in the fields of gene editing and gene therapy, including Maria Grazia Roncarolo, M.D., and Matthew Porteus, M.D., Ph.D.

    Learn more about Graphite Bio by visiting www.graphitebio.com and following the company on LinkedIn.

    Forward-Looking Statements

    Statements we make in this press release may include statements which are not historical facts and are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "seeks," "will," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact, including statements regarding the clinical and therapeutic potential of our gene editing platform and our product candidates, and the timing for enrollment of the first patient in our Phase 1/2 clinical trial of GPH101 and the availability of initial proof-of-concept data, may be deemed to be forward-looking statements. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act and are making this statement for purposes of complying with those safe harbor provisions.

    Any forward-looking statements in this press release are based on Graphite Bio's current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements, including the risk that we may encounter delays in patient enrollment and in the initiation, conduct and completion of our planned clinical trials. These risks concerning Graphite Bio's programs and operations are described in additional detail in its periodic filings with the SEC, including its quarterly report on Form 10-Q filed with the SEC on August 12, 2021. Graphite Bio explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.

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  3. Graphite Bio, Inc. (NASDAQ:GRPH), a clinical-stage, next-generation gene editing company focused on therapies that harness targeted gene integration to treat or cure serious diseases, today announced an abstract related to the company's sickle cell disease (SCD) research has been accepted for poster presentation during the 49th Annual Sickle Cell Disease Association of America (SCDAA) National Convention, taking place virtually Oct.12-16, 2021.

    Details of Graphite Bio's poster presentation are as follows:

    Poster Session: Basic Science and Translational Research
    Abstract: Preclinical Data in Support of CEDAR, A Phase 1/2 Study of Ex-Vivo Autologous Gene Corrected (HbS to HbA) Hematopoietic Stem Cells to Treat Severe Sickle Cell Disease
    Presenter:

    Graphite Bio, Inc. (NASDAQ:GRPH), a clinical-stage, next-generation gene editing company focused on therapies that harness targeted gene integration to treat or cure serious diseases, today announced an abstract related to the company's sickle cell disease (SCD) research has been accepted for poster presentation during the 49th Annual Sickle Cell Disease Association of America (SCDAA) National Convention, taking place virtually Oct.12-16, 2021.

    Details of Graphite Bio's poster presentation are as follows:

    Poster Session: Basic Science and Translational Research

    Abstract: Preclinical Data in Support of CEDAR, A Phase 1/2 Study of Ex-Vivo Autologous Gene Corrected (HbS to HbA) Hematopoietic Stem Cells to Treat Severe Sickle Cell Disease

    Presenter: Premanjali Lahiri, Director, Process Development at Graphite Bio

    Date/Time: October 12 at 1-2 p.m. ET

    About Sickle Cell Disease (SCD)

    SCD is a serious, life-threatening inherited blood disorder that affects approximately 100,000 people in the United States and millions of people around the world, making it the most prevalent monogenic disease worldwide. SCD is caused by a single mutation in the beta-globin gene that leads to red blood cells that are responsible for delivering oxygen to tissues and organs throughout the body to become misshapen, resulting in anemia, blood flow blockages, intense pain, increased risk of stroke and organ damage, and reduced life span of approximately 30 years. Despite advancements in treatment and care, progressive organ damage continues to cause early mortality and severe morbidity, highlighting the need for curative therapies.

    About GPH101

    GPH101 is an investigational next-generation gene-edited autologous hematopoietic stem cell (HSC) therapy designed to directly correct the genetic mutation that causes sickle cell disease (SCD). GPH101 is the first investigational therapy to utilize a highly differentiated gene correction approach that seeks to efficiently and precisely correct the mutation on the beta-globin gene to decrease sickle hemoglobin (HbS) production and restore normal adult hemoglobin (HbA) expression, thereby potentially curing SCD.

    Graphite Bio is evaluating GPH101 in the CEDAR trial, an open-label, multi-center Phase 1/2 clinical trial designed to assess the safety, engraftment success, gene correction rates, total hemoglobin, as well as other clinical and exploratory endpoints and pharmacodynamics in patients with severe SCD.

    About Graphite Bio

    Graphite Bio is a clinical-stage, next-generation gene editing company harnessing high efficiency precision gene correction to develop a new class of therapies to potentially cure a wide range of serious and life-threatening diseases. Graphite Bio is pioneering a precision gene editing platform that could enable a variety of applications to transform human health and achieve one of medicine's most elusive goals: to precisely "find & replace" any gene in the genome. Graphite Bio's platform allows it to precisely correct mutations, replace entire disease-causing genes with normal genes, or insert new genes into predetermined, safe locations. The company was co-founded by academic pioneers in the fields of gene editing and gene therapy, including Maria Grazia Roncarolo, M.D., and Matthew Porteus, M.D., Ph.D.

    Learn more about Graphite Bio by visiting www.graphitebio.com and following the company on LinkedIn.

    Forward-Looking Statements

    Statements we make in this press release may include statements which are not historical facts and are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "seeks," "will," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact, including statements regarding the clinical and therapeutic potential of our gene editing platform and our product candidates, and the timing for enrollment of the first patient in our Phase 1/2 clinical trial of GPH101 and the availability of initial proof-of-concept data, may be deemed to be forward-looking statements. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act and are making this statement for purposes of complying with those safe harbor provisions.

    Any forward-looking statements in this press release are based on Graphite Bio's current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements, including the risk that we may encounter delays in patient enrollment and in the initiation, conduct and completion of our planned clinical trials. These risks concerning Graphite Bio's programs and operations are described in additional detail in its periodic filings with the SEC, including its quarterly report on Form 10-Q filed with the SEC on August 12, 2021. Graphite Bio explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.

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  4. Graphite Bio, Inc. (NASDAQ:GRPH), a clinical-stage, next-generation gene editing company focused on therapies that harness targeted gene integration to treat or cure serious diseases, today announced that members of the management team will participate in virtual fireside chats at the following investor conferences:

    • Morgan Stanley 19th Annual Global Healthcare Conference on Monday, Sept. 13, 2021, at 2:45 p.m. ET; and
    • 2021 Cantor Virtual Global Healthcare Conference on Monday, Sept. 27, 2021, at 2:40 p.m. ET.

    The fireside chats will be webcast live from Graphite Bio's website at www.graphitebio.com in the Investors section. Replays of the webcasts will be archived and available for one month following each event.

    About Graphite Bio

    Graphite…

    Graphite Bio, Inc. (NASDAQ:GRPH), a clinical-stage, next-generation gene editing company focused on therapies that harness targeted gene integration to treat or cure serious diseases, today announced that members of the management team will participate in virtual fireside chats at the following investor conferences:

    • Morgan Stanley 19th Annual Global Healthcare Conference on Monday, Sept. 13, 2021, at 2:45 p.m. ET; and
    • 2021 Cantor Virtual Global Healthcare Conference on Monday, Sept. 27, 2021, at 2:40 p.m. ET.

    The fireside chats will be webcast live from Graphite Bio's website at www.graphitebio.com in the Investors section. Replays of the webcasts will be archived and available for one month following each event.

    About Graphite Bio

    Graphite Bio is a clinical-stage, next-generation gene editing company harnessing high efficiency targeted gene integration to develop a new class of therapies to potentially cure a wide range of serious and life-threatening diseases. Graphite Bio is pioneering a precision gene editing approach that could enable a variety of applications to transform human health through its potential to achieve one of medicine's most elusive goals: to precisely "find & replace" any gene in the genome. Graphite Bio's platform allows it to precisely correct mutations, replace entire disease-causing genes with normal genes or insert new genes into predetermined, safe locations. The company was co-founded by academic pioneers in the fields of gene editing and gene therapy, including Maria Grazia Roncarolo, M.D., and Matthew Porteus, M.D., Ph.D.

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  5. On track to enroll first patient in Phase 1/2 clinical trial of GPH101 for sickle cell disease in the second half of 2021

    Expanded leadership team with hiring of CSO and three new appointments to board of directors

    Completed upsized initial public offering of common stock, raising $273.7 million in gross proceeds

    Graphite Bio, Inc. (NASDAQ:GRPH), a clinical-stage, next-generation gene editing company harnessing high-efficiency precision gene correction to treat or cure serious diseases, today reported recent business progress and second quarter 2021 financial results.

    "This has been a transformational period for Graphite Bio as we advance our next-generation gene editing platform to precisely find and replace any gene in the genome. We…

    On track to enroll first patient in Phase 1/2 clinical trial of GPH101 for sickle cell disease in the second half of 2021

    Expanded leadership team with hiring of CSO and three new appointments to board of directors

    Completed upsized initial public offering of common stock, raising $273.7 million in gross proceeds

    Graphite Bio, Inc. (NASDAQ:GRPH), a clinical-stage, next-generation gene editing company harnessing high-efficiency precision gene correction to treat or cure serious diseases, today reported recent business progress and second quarter 2021 financial results.

    "This has been a transformational period for Graphite Bio as we advance our next-generation gene editing platform to precisely find and replace any gene in the genome. We have built an outstanding team of experienced industry leaders and, with our recent initial public offering, are well-resourced to advance our pipeline into clinical development, led by GPH101, a highly differentiated gene correction approach for sickle cell disease," said Josh Lehrer, M.Phil., M.D., chief executive officer of Graphite Bio. "We are focused on executing on our mission to develop potential one-time cures for patients who have a wide range of serious and life-threatening diseases, starting with sickle cell. We remain on track to enroll the first patient in our Phase 1/2 clinical trial of GPH101 in the second half of 2021, with initial proof-of-concept data expected by the end of 2022."

    Recent Highlights

    • Completed an upsized initial public offering (IPO) of 16,100,000 shares of common stock, including full exercise of the underwriters' option to purchase additional shares, resulting in aggregate gross proceeds of $273.7 million, before deducting underwriting discounts and commissions and other offering expenses.
    • Expanded the company's executive team with the hiring of Jane Grogan, Ph.D., a renowned scientific leader and drug developer in the fields of immunology, oncology and cell therapy, as chief scientific officer. Dr. Grogan leads the company's research and early development efforts, including the company's strategy to combine its gene editing technology with novel non-genotoxic hematopoietic stem cell-targeted conditioning regimens.
    • Appointed to the company's board of directors Dr. Kristen Hege, Smital Shah and Dr. Jo Viney, all experienced biopharma executives with decades of scientific and business leadership expertise.
    • Exclusively licensed patent rights to high fidelity Cas9, an engineered version of Cas9 with significantly reduced off-target activity, including a 30-fold reduction in off-target cleavage for the GPH101 program.

    Second Quarter Financial Highlights

    • Cash, Cash Equivalents and Restricted Cash: As of June 30, 2021, cash, cash equivalents and restricted cash totaled $382.1 million, which includes approximately $219.5 million in net proceeds from the company's June 2021 upsized IPO. An additional amount of approximately $31.9 million in net proceeds from the full exercise of the underwriters' option to purchase additional shares, which closed on July 2, will be reflected in the company's third quarter financial results.
    • R&D Expenses: Research and development expenses were $12.7 million for the second quarter of 2021, which includes $0.6 million in stock-based compensation expense.
    • G&A Expenses: General and administrative expenses were $4.9 million for the second quarter of 2021, which includes $1.4 million in stock-based compensation expense.
    • Net Loss: Net loss was $17.5 million, or $3.45 per basic and diluted share, for the quarter ended June 30, 2021.

    About Graphite Bio

    Graphite Bio is a clinical-stage, next-generation gene editing company harnessing high efficiency precision gene correction to develop a new class of therapies to potentially cure a wide range of serious and life-threatening diseases. Graphite Bio is pioneering a precision gene editing platform that could enable a variety of applications to transform human health and achieve one of medicine's most elusive goals: to precisely "find & replace" any gene in the genome. Graphite Bio's platform allows it to precisely correct mutations, replace entire disease-causing genes with normal genes, or insert new genes into predetermined, safe locations. The company was co-founded by academic pioneers in the fields of gene editing and gene therapy, including Maria Grazia Roncarolo, M.D., and Matthew Porteus, M.D., Ph.D.

    Forward-Looking Statements

    Statements we make in this press release may include statements which are not historical facts and are considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements may be identified by words such as "aims," "anticipates," "believes," "could," "estimates," "expects," "forecasts," "goal," "intends," "may," "plans," "possible," "potential," "seeks," "will," and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact, including statements regarding the clinical and therapeutic potential of our gene editing platform and our product candidates, and the timing for enrollment of the first patient in our Phase 1/2 clinical trial of GPH101 and the availability of initial proof-of-concept data, may be deemed to be forward-looking statements. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act and are making this statement for purposes of complying with those safe harbor provisions.

    Any forward-looking statements in this press release are based on Graphite Bio's current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements, including the risk that we may encounter delays in patient enrollment and in the initiation, conduct and completion of our planned clinical trials. These risks concerning Graphite Bio's programs and operations are described in additional detail in its final prospectus for the initial public offering, which was filed with the SEC on June 28, 2021. Graphite Bio explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.

     

    GRAPHITE BIO, INC.

    Condensed Statements of Operations

    (Unaudited)

    (In thousands, except share and per share data)

     

     

     

    Three Months Ended

     

     

     

    Six Months Ended

     

     

     

    June 30,

     

     

     

    June 30,

     

     

    2021

     

     

    2020

     

     

    2021

     

     

    2020

     

    Operating expenses*:

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Research and development

    $

     

    12,667

     

     

    $

     

    423

     

     

    $

     

    18,044

     

     

    $

     

    423

     

    General and administrative

     

     

    4,866

     

     

     

     

    869

     

     

     

     

    8,857

     

     

     

     

    990

     

    Total operating expenses

     

     

    17,533

     

     

     

     

    1,292

     

     

     

     

    26,901

     

     

     

     

    1,413

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Loss from operations

     

     

    (17,533

    )

     

     

     

    (1,292

    )

     

     

     

    (26,901

    )

     

     

     

    (1,413

    )

    Other income (expense), net:

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Other income (expense), net:

     

     

    4

     

     

     

     

    -

     

     

     

     

    4

     

     

     

     

    -

     

    Related party convertible note interest expense

     

     

    -

     

     

     

     

    (20

    )

     

     

     

    -

     

     

     

     

    (40

    )

    Change in fair value of the Series A redeemable convertible preferred stock tranche liability

     

     

    -

     

     

     

     

    -

     

     

     

     

    (10,341

    )

     

     

     

    -

     

    Total other income (expense), net

     

     

    4

     

     

     

     

    (20

    )

     

     

     

    (10,337

    )

     

     

     

    (40

    )

    Net loss and comprehensive loss

    $

     

    (17,529

    )

     

    $

     

    (1,312

    )

     

    $

     

    (37,238

    )

     

    $

     

    (1,453

    )

    Net loss per share attributable to common stockholders - basic and diluted

    $

     

    (3.45

    )

     

    $

     

    (0.56

    )

     

    $

     

    (8.45

    )

     

    $

     

    (1.25

    )

    Weighted-average shares used in computing net loss per share attributable to common stockholders - basic and diluted

     

     

    5,087,008

     

     

     

     

    2,329,402

     

     

     

     

    4,405,357

     

     

     

     

    1,164,700

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    * Includes stock-based compensation as follows

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    Research and development

    $

     

    614

     

     

    $

     

    -

     

     

    $

     

    811

     

     

    $

     

    -

     

    General and administrative

     

     

    1,404

     

     

     

     

    1

     

     

     

     

    2,240

     

     

     

     

    1

     

    Total stock-based compensation expense

    $

     

    2,018

     

     

    $

     

    1

     

     

    $

     

    3,051

     

     

    $

     

    1

     

     

    GRAPHITE BIO, INC.

    Condensed Balance Sheets

    (Unaudited)

    (In thousands)

     

     

     

    June 30,

     

     

    December 31,

     

     

     

    2021

     

     

    2020

     

    Assets

     

     

     

     

     

     

     

     

     

     

    Current assets:

     

     

     

     

     

     

     

     

     

     

    Cash and cash equivalents

     

    $

     

    381,965

     

     

    $

     

    19,782

     

    Restricted cash

     

     

     

    149

     

     

     

     

    35

     

    Prepaid expenses and other current assets

     

     

     

    2,638

     

     

     

     

    1,286

     

    Total current assets

     

     

     

    384,752

     

     

     

     

    21,103

     

    Property plant and equipment, net

     

     

     

    2,343

     

     

     

     

    1,461

     

    Other assets

     

     

     

    11

     

     

     

     

    -

     

    Total assets

     

    $

     

    387,106

     

     

    $

     

    22,564

     

    Liabilities, redeemable convertible preferred stock, and stockholders' equity (deficit)

     

     

     

     

     

     

     

     

     

     

    Current liabilities:

     

     

     

     

     

     

     

     

     

     

    Accounts payable

     

    $

     

    4,046

     

     

    $

     

    630

     

    Accrued compensation

     

     

     

    723

     

     

     

     

    466

     

    Accrued expenses and other current liabilities

     

     

     

    3,089

     

     

     

     

    1,890

     

    Series A redeemable convertible preferred stock tranche liability

     

     

     

    -

     

     

     

     

    29,062

     

    Total current liabilities

     

     

     

    7,858

     

     

     

     

    32,048

     

    Other liabilities

     

     

     

    64

     

     

     

     

    316

     

    Total liabilities

     

     

     

    7,922

     

     

     

     

    32,364

     

    Series A redeemable convertible preferred stock

     

     

     

    -

     

     

     

     

    55,608

     

    Stockholders' equity (deficit):

     

     

     

     

     

     

     

     

     

     

    Common stock

     

     

     

    1

     

     

     

     

    -

     

    Additional paid-in capital

     

     

     

    487,012

     

     

     

     

    5,183

     

    Accumulated deficit

     

     

     

    (107,829

    )

     

     

     

    (70,591

    )

    Total stockholders' equity (deficit)

     

     

     

    379,184

     

     

     

     

    (65,408

    )

    Total liabilities, redeemable convertible preferred stock, and stockholders' equity (deficit)

     

    $

     

    387,106

     

     

    $

     

    22,564

     

     

     

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