BEAM's Q2 Loss Wider Than Expected, Revenues Fall Y/Y, Pipeline in Focus

Year to date, shares of Beam Therapeutics have risen 2.3% compared with the industry’s 1.6% growth.

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BEAM's Q2 Results in Detail

Research and development expenses were $95.1 million in the second quarter, down 6.5% from the year-ago quarter.

General and administrative expenses increased 18.9% year over year to $31.9 million.

As of June 30, 2026, Beam Therapeutics had cash, cash equivalents and marketable securities worth $1.2 billion, roughly consistent with $1.21 billion as of March 31, 2026. The company expects its cash position, along with the anticipated $200 million to be drawn from its financing agreement with Sixth Street, to support operations into mid-2029.

BEAM's Pipeline Updates

Beam Therapeutics is developing its leading ex-vivo genome-editing candidate, risto-cel, in the phase I/II BEACON study for the treatment of patients with sickle cell disease (SCD), an inherited blood disorder.

Patient dosing has been completed, with updated clinical data expected by the end of 2026. BEAM plans to submit a biologics license application (BLA) for risto-cel by the end of this year.

Beam Therapeutics is also expanding its genetic disease pipeline by developing BEAM-301 and BEAM-302 for the treatment of glycogen storage disease type Ia (GSDIa) and alpha-1 antitrypsin deficiency (AATD), respectively.

BEAM-301 is being evaluated in a phase I/IIdose-exploration study in patients with GSDIa. Initial data from the study are expected in 2026.

The company is developing BEAM-302 in an ongoing phase I/II dose-escalation study for the treatment of AATD. In March, BEAM announced positive updated data from the study showing that BEAM-302 produced durable increases in functional AAT levels, significant reductions in mutant Z-AAT and generation of corrected M-AAT with a favorable safety profile across single doses up to 75 mg.

Following FDA feedback, Beam Therapeutics aims to pursue an accelerated approval pathway for BEAM-302. In July, the company dosed the first patient in the global pivotal cohort of its ongoing phase I/II study, supporting an accelerated approval pathway in the United States ahead a future BLA filing. Updated clinical data will be presented in September 2026.

Dosing in the ongoing phase I healthy volunteer study, evaluating BEAM-103, an anti-CD117 monoclonal antibody for the treatment of SCD, has been completed.The treatment was well tolerated across all dose levels tested.

The company expanded its liver-targeted genetic disease franchise with BEAM-304 for the treatment of phenylketonuria (PKU). In June, the FDA cleared its investigational new drug application, enabling the start of a phase I/II study. The study will initially evaluate safety and efficacy in PKU patients with the R408W mutation in the United States.

BEAM’s Zacks Rank & Stocks to Consider

Beam Therapeutics currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the biotech sector are Harmony Biosciences HRMY and Liquidia Corporation LQDA, each currently sporting a Zacks Rank #1 (Strong Buy) and Altimmune ALT, which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Over the past 90 days, earnings per share estimates for Harmony Biosciences have decreased from $3.34 to $3.33 for 2026. Over the same period, estimates for earnings per share increased from $3.79 to $3.87 for 2027. HRMY shares have risen 3.6% year to date.

Harmony Biosciences missed on earnings in each of the trailing four quarters, delivering an average negative surprise of 25.16%.

Over the past 90 days, estimates for Liquidia’s 2026 earnings per share have increased to $3.02 from $1.50. Over the same period, EPS estimates for 2027 have risen to $5.31 from $2.91. LQDA shares have gained 156.3% year to date.

Liquidia’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 54.40%.

Over the past 90 days, estimates for Altimmune’s loss per share have narrowed from $1.00 to 64 cents for both 2026 and 2027. ALT shares have declined 15% year to date.

Altimmune’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, the average surprise being 15.81%.

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