Beam Therapeutics Shares Fall After Q1 Net Loss Widens

Beam Therapeutics (BEAM) fell more than 5% in recent trading Tuesday after reporting a wider Q1 loss from the same period a year earlier.

The company reported a Q1 net loss of $1.24 per share, widening from a loss of $1.21 a year earlier.

Analysts polled by FactSet expected a loss of $1.18.

License and collaboration revenue for the quarter ended March 31 was $7.5 million, up from $7.4 million a year earlier.

Analysts surveyed by FactSet expected $14 million.

The company said it had cash, cash equivalents and marketable securities of $1.22 billion as of March 31 to finance its expected operating expenses and capital expenditure requirements into 2028.

Price: 18.75, Change: -1.07, Percent Change: -5.40