Beam Therapeutics Inc. (BEAM) FY2025 10-K Annual Report
Beam Therapeutics Inc. (BEAM) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 24, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
Beam Therapeutics Inc. FY2025 10-K Analysis
Business Overview
- • Core business: Fully integrated precision genetic medicines platform based on proprietary base editing gene editing technology without DNA double-strand breaks
- • New products/segments: Announced BEAM-304 for phenylketonuria (PKU) and advancing in vivo LNP liver-targeted base editors BEAM-302 (AATD) and BEAM-301 (GSDIa)
- • Strategic shift: Prioritizing in vivo base editing delivery modalities for hematopoietic stem cells to expand sickle cell disease treatment beyond ex vivo autologous stem cell therapies
- • Quantitative metric: Completed dosing manufacture for risto-cel (BEAM-101) in 31 patients with mean editing efficiency 67.4% at 6 months and 72.8% at 12 months
- • Noteworthy fact: FDA alignment on accelerated approval pathway for BEAM-302 based on 12-month biomarker data, with planned enrollment of ~50 additional patients in pivotal expansion
Management Discussion & Analysis
- • Revenue $139.7M in 2025 vs $63.5M in 2024 and $377.7M in 2023, primarily from license and collaboration agreements
- • Net loss $80.0M in 2025 vs $376.7M loss in 2024 and $132.5M loss in 2023, accumulated deficit $1.6B at 2025 year-end
- • Hematology segment (ristocel) showing clinical progress with high editing efficiency (67.4% at Month 6, 72.8% at Month 12) and upcoming BLA submission planned for year-end 2026
- • $100M initial draw on $500M senior secured Credit Facility entered Feb 2026, interest rate SOFR +6.50%, no product sales revenue yet, capital raises expected for ongoing R&D
- • Forward outlook: dose expansions and clinical updates in 2026 for hematology and genetic disease programs; key risks include capital needs, regulatory approvals, and execution of clinical development
Risk Factors
- • Cybersecurity risk oversight by Audit Committee with quarterly management updates and immediate alerts on significant incidents
- • Dependence on VP, IS with 25 years experience and CISSP and CISA certifications for cybersecurity program leadership
- • Company-wide annual employee training on data protection and incident response covering phishing and social engineering
- • Use of technology-based tools combined with employee programs to mitigate cybersecurity risks
Beam Therapeutics Inc. FY2025 Key Financial MetricsXBRL
Revenue
$140M
▲ +120.0% YoY
Net Income
-$80M
▲ +78.8% YoY
Operating Margin
-274.6%
▲ +37968bp YoY
Net Margin
-57.2%
▲ +53588bp YoY
ROE
-6.5%
▲ +4490bp YoY
Total Assets
$1.5B
▲ +34.2% YoY
EPS (Diluted)
$-0.81
▲ +82.3% YoY
Operating Cash Flow
-$345M
▲ +0.6% YoY
Source: XBRL data from Beam Therapeutics Inc. FY2025 10-K filing on SEC EDGAR. All figures in USD.
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