Editas Medicine EDIT incurred a loss of 26 cents per share in the first quarter of 2026, narrower than the Zacks Consensus Estimate of a loss of 30 cents. The company had reported a loss of 43 cents per share in the year-ago quarter. Loss narrowed year over year, primarily driven by lower operating expenses.
Collaboration and other research and development (R&D) revenues, which comprise Editas’ top line, totaled $2.8 million in the reported quarter, down 39.2% from the year-ago quarter’s figure. The reported figure fell short of the Zacks Consensus Estimate of $9 million. The year-over-year decrease was primarily due to the recognition of revenues related to milestones achieved under EDIT’s collaboration agreement with a strategic partner in 2025.
Year to date, shares of Editas have risen 48.3% against the industry’s 2.4% decline.
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EDIT’s Q1 Results in Detail
In the first quarter of 2026, R&D expenses decreased 34% to $17.6 million compared with $26.6 million reported in the year-ago period. The decline was primarily driven by lower headcount and reduced clinical and manufacturing costs following the abandonment of the reni-cel program in December 2024, partly offset by in vivo research and discovery costs.
General and administrative expenses were $10.2 million in the reported quarter, down 23.5% year over year, due to a decline in employee-related expenses resulting from a reduced workforce and lower professional service expenses following the abandonment of the reni-cel program.
Editas did not record any restructuring and impairment charges in the first quarter of 2026 compared with $40.9 million in the year-ago quarter.
Editas had cash, cash equivalents and investments worth $123.6 million as of March 31, 2026, compared with $146.6 million as of Dec. 31, 2025. The company expects its existing cash position to fund operating and capital needs into the third quarter of 2027.
EDIT’s Key Pipeline Update
Editas has no approved products in its portfolio at the moment. Therefore, pipeline development remains the key focus of the company.
In late 2024, Editas discontinued the reni-cel program after failing to secure a commercial partner and cut its workforce by about 65%. This move returned the company to a pre-clinical stage, shifting its focus to in vivo (within the living organism) pipeline development.
Last year, Editas nominated EDIT-401 as its lead in vivo development candidate. This experimental, potential best-in-class, one-time gene editing therapy is designed to significantly reduce LDL cholesterol (LDL-C) levels, marking a key milestone in the company’s efforts to advance in vivo programmable gene editing.
Editas has already reported compelling preclinical results for EDIT-401, showing rapid and durable ≥90% LDL-C reductions in both non-human primates and mouse models with only moderate LDLR editing.
The company is advancing the preclinical development of EDIT-401, including conducting good laboratory practice toxicology studies in non-human primates to support its progression into a first-in-human clinical study. Editas plans to initiate the study in patients with heterozygous familial hypercholesterolemia later this year, targeting initial proof-of-concept data by the end of 2026 and top-line results in 2027.
Editas Medicine, Inc. Price, Consensus and EPS Surprise
Editas Medicine, Inc. price-consensus-eps-surprise-chart | Editas Medicine, Inc. Quote
EDIT’s Zacks Rank & Stocks to Consider
Editas currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Castle Biosciences (CSTL) and Indivior Pharmaceuticals INDV, each currently sporting a Zacks Rank #1 (Strong Buy) and Catalyst Pharmaceuticals CPRX, which carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, estimates for Castle Biosciences’ 2026 loss per share have narrowed from $1.42 to $1.40. Over the same period, loss per share estimates for 2027 have also narrowed from 79 cents to 78 cents. CSTL shares have lost 36.7% year to date.
Castle Biosciences’ earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 34.69%.
Over the past 60 days, estimates for Indivior Pharmaceuticals’ 2026 earnings per share have increased from $3.03 to $3.26. Over the same period, EPS estimates for 2027 have risen to $3.57 from $3.40. INDV shares have risen 10.3% year to date.
Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 65.44%.
Over the past 60 days, estimates for Catalyst Pharmaceuticals’ 2026 earnings per share have declined from $2.82 to $2.79. Over the same period, EPS estimates for 2027 have surged from $3.20 to $3.28. CPRX shares have gained 32.3% year to date.
Catalyst Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 35.19%.
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This article originally published on Zacks Investment Research (zacks.com).