Beam Therapeutics (BEAM) reported Q4 adjusted earnings Tuesday of $2.33 per diluted share, swinging from a loss of $1.09 a year earlier.

Analysts polled by FactSet expected a loss of $1.01.

License and collaboration revenue for the quarter ended Dec. 31 was $114.1 million, compared with $30.1 million a year earlier.

Analysts surveyed by FactSet expected $11.7 million.

The company said it had cash, cash equivalents and marketable securities of $1.25 billion as of Dec. 31, enough to help it finance its expected operating expenses and capital expenditure requirements into mid-2029.

Beam Therapeutics shares were up 4.1% in recent premarket activity.