News about Beam Therapeutics

Ark Investment Management, led by Cathie Wood, holds $220.4 million in Beam Therapeutics (BEAM) shares through its Ark ETFs, and recently bought another $2.8 million worth on Oct. 12 and 13 for the Ark Genomic Revolution (ARKG) fund. Beam develops gene-editing therapies using base editing, which changes single nucleotides without cutting both DNA strands, and its lead candidate, risto-cel, is in early trials for severe sickle cell disease. The company is far from profitable: first-half revenue was $32.2 million, up 50.5%, and loss per share was $2.09 versus $2.12 a year earlier, while $1.15 billion in cash is expected to fund operations through mid-2029. The stock is down more than 14% this year, and the article notes that the next 12 to 18 months will bring dense data readouts that could significantly lift the shares if positive.