Editas Medicine First Quarter 2024 Earnings: Misses Expectations

Editas Medicine (NASDAQ:EDIT) First Quarter 2024 Results

Key Financial Results

• Revenue: US$1.14m (down 89% from 1Q 2023).

• Net loss: US$62.0m (loss widened by 26% from 1Q 2023).

• US$0.76 loss per share (further deteriorated from US$0.71 loss in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Editas Medicine Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 84%. Earnings per share (EPS) also missed analyst estimates by 31%.

Looking ahead, revenue is forecast to grow 39% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Biotechs industry in the US.

Performance of the American Biotechs industry.

The company's shares are down 10% from a week ago.

Risk Analysis

Be aware that Editas Medicine is showing 4 warning signs in our investment analysis that you should know about...

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