By Amira McKee
Shares of Editas Medicine climbed after the company logged a narrower fourth-quarter loss and revenue that outperformed analyst estimates.
The stock jumped 16% to $2.32 in Monday morning trading. The shares have gained 35% in the past year.
The developer of genome editing technology recorded a fourth-quarter loss of $5.6 million, or six cents a share, compared with a loss of $45.4 million, or 55 cents a share, a year earlier.
The results beat Wall Street's forecast for a fourth-quarter loss of 27 cents a share, according to FactSet.
Revenue was $24.7 million, down from $30.6 million a year prior, but exceeding the $8.3 million that analysts polled by FactSet were expecting.
The company attributed the top-line decline to milestone payments that boosted revenue in the fourth quarter of 2024.
Research and development expenses and general administrative expenses declined by 44% and 30%, respectively. Restructuring and impairment charges swung from $12.2 million to a benefit of $6.3 million. The decline in expenses was primarily driven by the discontinuation of clinical development of the company's reni-cel program and a workforce reduction.
Write to Amira McKee at amira.mckee@wsj.com
(END) Dow Jones Newswires
March 09, 2026 10:55 ET (14:55 GMT)
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