Beam Therapeutics Reports Pipeline Updates and First Quarter 2023 Financial Results
CAMBRIDGE, Mass., May 10, 2023 (GLOBE NEWSWIRE) -- Beam Therapeutics Inc. (Nasdaq: BEAM), a biotechnology company developing precision genetic medicines through base editing, today reported first quarter 2023 financial results and provided an update on its BEACON clinical trial and pipeline progress.
- Beam expects to fully enroll the sentinel cohort in 2023.
- Beam expects to initiate current good manufacturing practice compliant operations at its North Carolina manufacturing facility in late 2023.
- Research & Development (R&D) Expenses: R&D expenses were $99.6 million for the first quarter of 2023, compared to $65.4 million for the first quarter of 2022.
- General & Administrative (G&A) Expenses: G&A expenses were $23.5 million for the first quarter of 2023, compared to $19.2 million for the first quarter of 2022.