Target
$50.37 → $51.94
Current stock research snapshot · 7/31/26 26 days old
BEAMBeam Therapeutics
Investment conviction●●○○○2 of 5 · current snapshot
Research target$51.94Current stock price target
Investment thesis statusNEEDS_MORE_DATALast reviewed 7/31/26
Market cap$2.68BSnapshot value · 7/31/26
Research history
See all BEAM changes ↗What changed
Target
$50.38 → $50.37
Healthspan taxonomy seed — see taxonomy_path
Beam Therapeutics sickle cell (BEAM-101) IND/Phase 1 update; Q2 2026 earnings; base editing preclinical data
Thesis breaks if late-stage efficacy/safety data disappoint (durability, immunogenicity, conditioning toxicity), CMC/regulatory hurdles stall ex vivo and in vivo programs, or competing base-editing/delivery tech erodes the IP moat. (vault 2026-08)
Bullish — Listed in Qullamaggie/Minervini/Stockbee scans on Aug 25 2026 [X search Aug 2026]
Snapshot · 7/31/26🟡 Mixed · ins-$14.2M · 13F 17+/7-×0.5 · short↑0.37
Snapshot · 7/31/26Timestamped research update
Deep research update
487 words · Updated Aug 15, 2026 · 4 sources
Research in development: this latest 487-word update is published for context while it is expanded toward the 1,000-word editorial standard.
Beam Therapeutics is a clinical-stage base-editing company running four named programs plus an ex vivo franchise: BEAM-302 (alpha-1 antitrypsin deficiency / AATD, Phase 1/2, in vivo liver-targeted LNP), BEAM-301 (glycogen storage disease type 1a, Phase 1/2), BEAM-103 (Phase 1 healthy-volunteer), BEAM-304 (phenylketonuria, planned Phase 1/2), and risto-cel / BEACON (ex vivo autologous hematopoietic-stem-cell base editing for severe sickle cell disease, ~50 patients).
Q2 2026 collaboration revenue was $0.49M (H1 2026 $32.228M, lumpy milestone-driven), R&D $95.096M, G&A $31.947M, net loss $(122.678)M. Cash + marketable securities = $219.825M + $933.102M = $1,152.927M at 2026-06-30. Source: SEC XBRL companyfacts (CIK0001745999) + Q2 2026 10-Q.
Base editing is the precision tool that converts point mutations into durable single-nucleotide corrections without double-strand breaks — the platform class for one-time genetic medicines. Beam's investable claim is that it owns enough of the deaminase-engineering + delivery stack to take point-mutation diseases from proof-of-concept to BLA.
- 10-K: base editors "edit the genome without making a double-stranded break in the DNA," combining a modified CRISPR nickase and a deaminase — "more precise and efficient edit compared to traditional gene editing methods."
- 10-K: 12 issued U.S. patents, 57 issued foreign patents, 550+ pending applications (owned), plus in-licensed estate.
- 10-K: FDA alignment on an accelerated approval pathway for BEAM-302 based on AATD biomarkers over 12 months.
- 10-Q: Sixth Street facility = $100M drawn, up to $300M risto-cel milestone tranches, $100M option (7-year term).
- EX-99.1: risto-cel BLA submission targeted as early as year-end 2026; BEAM-302 first patient dosed in global pivotal cohort; BEACON dosing complete for all adult/adolescent patients.
- XBRL: cash + marketable securities $1.153B at 2026-06-30.
- Clinical: BEAM-302 durability/immunogenicity and BEACON conditioning toxicity could disappoint.
- Execution: CMC/release scale-up for both ex vivo (HSC) and in vivo (LNP) is unproven at commercial scale.
- Financing: milestone tranches ($300M) are gated on risto-cel success — not free liquidity.
- Will BEAM-302's 12-month biomarker readout support the accelerated approval pathway, or will the FDA require clinical-outcome follow-up?
- Does risto-cel's no-double-strand-break profile translate into a safer conditioning regimen that differentiates it from nuclease-based Casgevy on the ground?
- How concentrated is the in-licensed IP, and what royalty/milestone obligations attach to the lead programs?
STRENGTHENED. Two net-new positives over the 08-08 block: (1) the FDA accelerated-approval alignment for BEAM-302 (12-month biomarkers) was not captured before; (2) the cash-burn decomposition shows true quarterly burn of $66M (vs the $122.7M accounting loss) and a 4.4-year runway at current spend — the loss-widening is revenue-timing, not expense-driven. The binding constraint remains pre-revenue economic capture (score 2).
Primary and supporting material
Sources
4 sources preserved from the latest qualified research update.