Beam Therapeutics (BEAM) reported a Q3 net loss Tuesday of $1.17 per share, narrowing from a loss of $1.22 a year earlier.

Analysts polled by Capital IQ expected a loss of $1.15.

License and collaboration revenue for the quarter ended Sept. 30 was $14.3 million, down from $17.2 million a year earlier.

Analysts surveyed by Capital IQ expected $14.1 million.

The company said it had $925.8 million in cash, cash equivalents and marketable securities as of Sept. 30 to fund its operations into 2027.

Shares of the company were down over 10% in recent premarket activity.

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