Editas Medicine (EDIT) is a leading genome editing company. The company’s product development strategy is to mainly target genetically defined diseases with a focus on debilitating illnesses.
Editas Medicine’s most mature development programs are in ocular diseases and engineered cell medicines. Editas Medicine’s most advanced program is targeted at Leber Congenital Amaurosis type 10 (or LCA10) disease—a specific form of retinal degeneration. Editas filed an investigational new drug application for the program in October. By the end of 2022, Editas Medicine aims to have at least three experimental medicines in early-stage clinical trials. The company plans to have at least two additional experimental medicines in or ready for late-stage clinical trials.
Editas Medicine generated total collaboration and other research and development revenues of $14.52 million in the latest quarter—compared to $6.28 million in the same period in 2017. The increase was due to higher revenues recognized under the company’s strategic collaboration with Allergan (AGN) and a license agreement with Beam Therapeutics. The increase was partially offset by lower revenues recognized from a collaboration agreement with Juno Therapeutics.
For fiscal 2018 and 2019, Editas Medicine is expected to generate revenues of $37.45 million and $30.73 million, respectively—compared to revenues of $13.73 million in fiscal 2017.
Next, we’ll discuss Editas Medicine’s operational performance.