Beam Reports Third-Quarter Results, Highlights 84% Reduction in Mutant Z-AAT Protein
Key Facts
Beam Therapeutics reported its financial results for the third quarter of 2026 on November 3, saying it had made clinical progress across its base-editing therapy pipeline. The financial announcement comes as the company continues developing BEAM-302 to treat alpha-1 antitrypsin deficiency, following earlier clinical data showing changes in protein markers associated with the disease. In its September update, the mean reduction in mutant Z-AAT protein was 84% in the 60 mg dose cohort, according to company data. Corrected M-AAT protein also accounted for 93% of circulating AAT at steady state after the same dose in Parts A and B. The announcement is the company's latest quarterly update, while progress on BEAM-302 remains part of its clinical development program.
Beam said its BEAM-302 data presentation included 29 patients who received a single dose in the dose-escalation portions of Parts A and B. By August 17, 2026, a total of 38 patients had received treatment across the two parts, according to the company. The figure of 29 therefore refers to participants included in the clinical presentation, while 38 reflects the total number treated by the stated date. In the 60 mg cohort, mutant Z-AAT fell by a mean of 84% at steady state. M-AAT accounted for 93% of total circulating AAT across the two parts, compared with about 80% associated with the MZ genotype, according to the September statement. These figures are protein markers from a Phase 1/2 trial, as the company continues to track the therapy's development.
The data showing an 84% reduction came from a February 10, 2026, data cutoff, according to the company's filing with the U.S. Securities and Exchange Commission. Those data included patients in the 60 mg and 75 mg dose cohorts, with a mean steady-state reduction of 79% recorded in the 75 mg cohort. Some participants had been followed for up to 18 months at that cutoff. In the September update, the 93% M-AAT share in the 60 mg cohort was compared with about 80% associated with the MZ genotype. The comparison places the corrected-protein share against a reference cited by the company, alongside the recorded reduction in mutant protein. The company dosed the first patient in the global pivotal cohort in July 2026.
Beam plans to support a potential biologics license application by enrolling about 50 additional patients, according to its plan announced in 2026. The company said it is seeking an accelerated approval pathway based on core AAT markers assessed over 12 months. In its November 3 announcement, it expected to complete dosing in the global pivotal cohort for BEAM-302 in the first half of 2027. That is the latest timeline the company has announced for this stage of the study. The company's previous funding outlook, in August, indicated that existing cash, together with an expected additional $200 million draw from the Sixth Street facility, could fund operating and capital expenses through mid-2029. That remains a funding estimate announced in August, alongside today's update on clinical progress.
In its financial background, Beam reported a net loss of $122.7 million, or $1.18 per share, in the second quarter of 2026. The loss in the second quarter of 2025 was $102.1 million, or $1.00 per share. Those earlier quarterly results provide context on the company's finances ahead of its November 3 third-quarter results announcement, but are not third-quarter figures. In the market, BEAM shares closed at $25.87 on November 2, the day before the announcement. The stock had fallen about 9% to $26.88 on September 8 after the updated clinical data presentation, and a market report quoted Evercore ISI analysts as saying the results were not worse than before but had not improved numerically. That move was in the September session, while the November 2 price reflects the close ahead of the third-quarter announcement.