Beam Therapeutics reports Q2 EPS ($1.02), consensus ($1.08) » 06:3608/0908/09/22
Reports Q2 revenue…
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|Over a week ago|
Beam Therapeutics drops 12% to $54.99 after FDA places hold on BEAM-201 IND 07:2108/0108/01/22
Beam Therapeutics announces FDA clinical hold on BEAM-201 IND application » 06:3108/0108/01/22
Beam Therapeutics announced that on Friday, July 29, the company was informed via e-mail communication from the U.S. FDA that the BEAM-201 Investigational New Drug application for the treatment of relapsed/refractory T-cell acute lymphoblastic leukemia/T cell lymphoblastic lymphoma has been placed on clinical hold. BEAM-201 is a potent and specific anti-CD7, multiplex-edited, allogeneic chimeric antigen receptor T cell development candidate. The BEAM-201 IND was submitted at the end of June. The FDA indicated they will provide an official clinical hold letter to Beam within 30 days. Beam plans to provide additional updates pending discussion with the FDA.
Short Report: Revlon shorts recede, stock retreats as buyout news fades » 11:4407/2307/23/22
BEAM, GOSS, GOEV, WMT, BBBY, REV, VERV
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Beam Therapeutics price target raised to $61 from $41 at BMO Capital » 09:3407/1807/18/22
BMO Capital analyst…
BMO Capital analyst Kostas Biliouris raised the firm's price target on Beam Therapeutics to $61 from $41 but keeps a Market Perform rating on the shares. The analyst is positive on the company's recent advancements as Verve - one of the major Beam's partners - is applying Beam's base editing technology in the cardiovascular disease space. Biliouris adds however that while he is keen on the "great potential" of the Beam platform, all of its assets are "early" and clinical derisking "has not been established".
|Over a month ago|
Beam Therapeutics to present new research at FASEB conference » 06:3406/2706/27/22
Beam Therapeutics announced that new research highlighting the company's internal efforts to develop improved transplant conditioning regimens for patients with sickle cell disease undergoing hematopoietic stem cell transplantation will be presented today, June 27, 2022, at 4:00 p.m. CEST at the Federation of American Societies for Experimental Biology Genome Engineering Conference by Nicole Gaudelli, Ph.D., director, head of gene editing at Beam. The conference is being held from June 26-30, 2022, in Lisbon, Portugal. New antibody-based conditioning agents have shown promise in targeting CD117, an optimal conditioning target for eliminating HSCs, but such antibodies generally cannot discriminate between host and transplanted cells, and therefore are designed with short half-life or dosed at low concentrations well before transplant. To potentially solve for this and other safety concerns associated with current conditioning regimens, Beam scientists developed ESCAPE, whereby an edit-antibody pair targeting CD117 was designed to enable edited HSCs to function normally but escape the binding of the conditioning antibody. This strategy is intended to allow the conditioning antibody to continue clearing older unedited host cells while selectively allowing new edited cells to proliferate in the body during engraftment. The findings show that in vitro the ESCAPE antibodies bound to wild-type CD117, blocked binding of its ligand and led to depletion of unedited cells, while enriching for edited cells which were generally not bound by the antibody. High levels of editing efficiency were demonstrated with both a single CD117 edit and simultaneous CD117 and BEAM-101 edits. Beam has also developed a CD117 editing strategy with greater than 75% editing efficiency that is also compatible with an edit to correct the sickle mutation and generate HbG-Makassar, Beam's strategy with its BEAM-102 program. Relative to a control, ESCAPE reduced cell viability of unedited cells while maintaining CD117 edited cells in vitro, suggesting utility as a conditioning agent with a selective advantage to edited HSCs post-transplant.
Beam Therapeutics initiated with a Market Perform at BMO Capital » 16:2406/1606/16/22
BMO Capital analyst…
BMO Capital analyst Kostas Biliouris initiated coverage of Beam Therapeutics with a Market Perform rating and $41 price target. The analyst appreciates the "high potential" of Beam's next-generation editing approach, but thinks the stock's current risk/reward already assumes clinical success.
Proven algorithm says sell these stocks now » 13:5905/2005/20/22
SOFI, CGC, FRPT, BEAM, SST, AI, KRYS, ASTS, RSI, MSTR, SG, ARRY, CYXT, GDS, RKLB, SA
Each week, The Fly will…
|Over a quarter ago|
Beam Therapeutics reports Q1 EPS ($1.01), consensus ($1.32) » 06:4305/0905/09/22
Reports Q1 revenue…
Reports Q1 revenue $8.43M, consensus $5.91M. "Base editing has the potential to offer life-changing medicines for a broad range of diseases, and we are committed to better understanding the pathophysiology of the diseases in our pipeline, and their impacts on the lives of patients and their families," said CEO John Evans. "We are excited to be collaborating with the Globin Research Network for Data and Discovery on the AUNT natural history study in people with sickle cell trait. We are on track and expect to commence SCD patient enrollment in our Phase 1/2 BEACON-101 clinical trial to evaluate the safety and efficacy of BEAM-101 in patients with SCD, as well as make our planned IND submission for BEAM-102, which is also in development for the treatment of SCD. Our immunology and liver-directed pipelines are also progressing, with plans for additional regulatory submissions, research studies and program nominations throughout the year, and we continue to build upon our delivery capabilities, including our novel LNP technology platform, potentially allowing us to expand the future reach of our programs. We believe the parallel advancement of these diverse programs creates a broad foundation for our future growth and is evidence of our commitment to developing new and better treatments for multiple patient populations and to unlocking the full potential of precision genetic medicine."
Beam Therapeutics initiated with a Neutral at Credit Suisse » 07:0504/2804/28/22
Credit Suisse analyst…
Credit Suisse analyst Richard Law initiated coverage of Beam Therapeutics (BEAM) with a Neutral rating and $62 price target. The company's lead programs, and "main value drivers," are BEAM-101/102 in sickle cell disease, or SCD, said Law. Competition, such as Crispr Therapeutics' (CRSP) CTX001, has already demonstrated curative potential in freeing SCD patients from vaso-occlusive episodes so he is "not sure what additional value BEAM can bring," said Law, who sees Beam being multiple years behind the competition.