Beam Therapeutics Inc.: Q2 FY2026 earnings call

What management said about Q2 FY2026, from the documents filed with the SEC on 4 August 2026: press release. Guidance figures: 1 raised, 2 new, 3 kept. The quarter’s numbers.

Read the filing

Key takeaways

• Net loss rose to $122.7 million: Net loss was $122.7 million, or $1.18 per share, against $102.1 million, or $1.00 per share, a year earlier. Weighted-average shares rose to 104,326,669 from 101,995,184. Source
• Sixth Street draw expected to rise: The company expects an additional $200 million to be drawn from its Sixth Street facility. The first quarter release included $100 million from the financing close and an anticipated further $100 million. Source
• Runway into mid-2029 maintained: Cash plus the Sixth Street draw is expected to fund operations into mid-2029, through the risto-cel launch, the BEAM-302 pivotal plan and BEAM-304 proof of concept. Source
• R&D spending lower year on year: R&D expenses were $95.1 million, against $101.8 million a year earlier. Six-month R&D expenses were $199.6 million, against $200.6 million. Source
• BEACON dosing complete in SCD: Dosing completed for all adult and adolescent patients in the Phase 1/2 BEACON trial of risto-cel in sickle cell disease. Source
• Pivotal cohort first patient dosed: The first patient in the global pivotal cohort was dosed in July. The cohort enrolls patients with AATD-associated lung disease, with or without liver disease. Source
• BEAM-304 IND cleared in June: The FDA cleared the investigational new drug application for BEAM-304 in June, and the company has initiated clinical start-up activities for the planned Phase 1/2 trial. Source

“The second quarter marked another period of rapid progress and disciplined execution on the clinical, regulatory and operational milestones we set for Beam,”

John Evans, chief executive officer of Beam Therapeutics

Guidance

What changed from last quarter

• Guidance raised: Additional Sixth Street draw expected rose to $200 million from an anticipated $100 million. Source
• New guidance: Updated BEACON trial data expected by year-end 2026, a timing not given in the first quarter release. Source
• New: First patient dosed in the global pivotal cohort of BEAM-302 in July; first quarter release expected initiation in the second half of 2026. Source
• New: FDA cleared the BEAM-304 IND in June; first quarter release expected IND filing in 2026. Source
• New: Dosing completed for all adult and adolescent patients in the Phase 1/2 BEACON trial. Source
• New: BEAM-103 Phase 1 enrollment and dosing completed; first quarter release expected dosing completion in the first half of 2026. Source
• Guidance kept: BLA submission for risto-cel remains as early as year-end 2026. Source
• Guidance kept: Cash runway into mid-2029 is unchanged from the first quarter release. Source

Quarterly results and loss

• Net loss rose to $122.7 million: Net loss was $122.7 million, or $1.18 per share, against $102.1 million, or $1.00 per share, a year earlier. Weighted-average shares rose to 104,326,669 from 101,995,184. Source
• Collaboration revenue lower than last year: License and collaboration revenue was $490 thousand, against $8,466 thousand a year earlier. Six-month revenue was $32.2 million, against $15.9 million. Source
• Operating loss and comprehensive loss: Loss from operations was $126.6 million, against $120.1 million. Comprehensive loss was $123.8 million, against $102.3 million, including a $1.1 million unrealized loss on marketable securities. Source

Cash, facility and runway

• Cash held near $1.2 billion: Balance sheet cash, cash equivalents and marketable securities were $1,152,927 thousand at June 30, 2026, against $1,245,210 thousand at December 31, 2025. Source
• Sixth Street draw expected to rise: The company expects an additional $200 million to be drawn from its Sixth Street facility. The first quarter release included $100 million from the financing close and an anticipated further $100 million. Source
• Runway into mid-2029 maintained: Cash plus the Sixth Street draw is expected to fund operations into mid-2029, through the risto-cel launch, the BEAM-302 pivotal plan and BEAM-304 proof of concept. Source
• Equity down, liabilities up: Total stockholders’ equity was $1,067,442 thousand at June 30, 2026, against $1,238,358 thousand at December 31, 2025. Total liabilities were $318,913 thousand, against $242,819 thousand. Source

“Importantly, this progress enabled dosing of the first patient in the global pivotal cohort evaluating BEAM-302, the most advanced genetic medicine in development for AATD, which has the potential to fundamentally change the treatment paradigm for patients.”

John Evans, chief executive officer of Beam Therapeutics

Operating expenses

• R&D spending lower year on year: R&D expenses were $95.1 million, against $101.8 million a year earlier. Six-month R&D expenses were $199.6 million, against $200.6 million. Source
• G&A expenses higher year on year: G&A expenses were $31.9 million, against $26.9 million a year earlier. Six-month G&A expenses were $66.4 million, against $54.8 million. Source
• Total operating expenses roughly flat: Total operating expenses were $127.0 million, against $128.6 million a year earlier. Total other income was $3.9 million, against $18.0 million. Source

Hematology: risto-cel and BEAM-103

• BEACON dosing complete in SCD: Dosing completed for all adult and adolescent patients in the Phase 1/2 BEACON trial of risto-cel in sickle cell disease. Source
• BEAM-103 healthy volunteer dosing finished: Enrollment and dosing finished in the Phase 1 healthy volunteer trial of BEAM-103, an anti-CD117 antibody. Treatment was well tolerated across all doses tested. Source
• Targeted LNPs in lead optimization: Targeted lipid nanoparticles for delivering gene editing to hematopoietic stem cells have been identified and are in lead optimization. Source

“Looking ahead, we believe Beam is positioned to achieve several important milestones, including updated clinical data for BEAM-302 at the ERS Congress, rapid enrollment in the BEAM-302 pivotal cohort”

John Evans, chief executive officer of Beam Therapeutics

Liver-targeted franchise: BEAM-302

• Pivotal cohort first patient dosed: The first patient in the global pivotal cohort was dosed in July. The cohort enrolls patients with AATD-associated lung disease, with or without liver disease. Source
• Accelerated approval path pursued: The pivotal cohort is designed to support a potential accelerated approval path in the United States. Source

BEAM-304 and BEAM-301 programs

• BEAM-304 IND cleared in June: The FDA cleared the investigational new drug application for BEAM-304 in June, and the company has initiated clinical start-up activities for the planned Phase 1/2 trial. Source
• BEAM-304 first mutation targeted: The trial will first test safety, tolerability and blood Phe reduction in PKU patients with the R408W mutation, then evaluate base editors for other mutations within one program. Source
• BEAM-304 preclinical data presented: Updated preclinical BEAM-304 data were presented in July at the FASEB Genome Engineering conference and are available on the company website. Source
• BEAM-301 in dose-exploration trial: BEAM-301, aimed at the R83C mutation in glycogen storage disease type Ia, is in an open-label Phase 1/2 dose-exploration trial. Source

Coming up, as management said on 4 August 2026

• ERS late-breaking presentation: Detailed and updated BEAM-302 clinical data are scheduled for a late-breaking oral presentation at the ERS Congress, September 5-9, 2026, in Barcelona. Source
• BEAM-301 initial clinical data: Management expects to report initial BEAM-301 clinical data in 2026. Source
• BEAM-304 trial start-up underway: Clinical start-up activities have been initiated for the planned Phase 1/2 BEAM-304 trial in PKU. Source
• Risto-cel BEACON data and BLA: Updated BEACON data are expected by year-end 2026, and BLA submission for risto-cel is expected as early as year-end 2026. Source

Figures management reported

Risks management discussed

• Financial: The runway into mid-2029 includes an additional $200 million expected to be drawn from the Sixth Street facility, beyond cash at June 30, 2026. Source

Earlier plans management reported on

• Not stated: First patient in the pivotal cohort was dosed in July 2026, per the second quarter release.
• Not stated: The FDA cleared the BEAM-304 IND in June 2026, per the second quarter release.
• Not stated: Enrollment and dosing in the BEAM-103 Phase 1 trial were completed, per the second quarter release.
• On track: The first quarter release said management remained on track for the BLA submission timing.

Other quarters

• Q3 FY2026 earnings call
• Q1 FY2026 earnings call
• Q4 FY2025 earnings call
• Q3 FY2025 results

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.