Earnings ·
Reports Q3 net income of $1.17B on $1.35B gain from sevasemten sale to Servier
EWTXEdgewise Therapeutics, Inc.
Edgewise Therapeutics reported a third-quarter net income of $1,166.2 million, or $10.71 per basic share, driven by a $1.348 billion gain from the July sale of its sevasemten program and muscular dystrophy business to Servier. The company received $1.396 billion in upfront cash proceeds at closing. Operating expenses totaled $46.1 million, with R&D costs declining to $31.6 million as sevasemten development ceased, while G&A rose to $14.6 million due to expanded organizational capabilities and stock-based compensation. The company holds approximately $1.74 billion in cash and marketable securities. Edgewise also dosed the first patient in its Phase 2 EQUINOX-HFpEF trial for EDG-15400 and expects to initiate a Phase 3 trial for EDG-7500 by year-end 2026. The company is a cardiovascular biotechnology firm developing novel therapies for heart conditions.