Cambridge biotech tracker · Cambridge
Beam Therapeutics
Listed on Nasdaq as BEAM, filed under SEC industry code 2836 (biological products). Fiscal year ends in December. Numbers below are from the company’s own SEC filings through Q3 '26.
- Cash & investments
- $1.04B
- Q3 '26 · Sep 30, 2026
- Burn per quarter
- $97.2M
- avg. operating cash flow, 4 qtrs
- Runway
- 2.7 yrs
- 24 to 36 months
- Net loss
- $134M
- Q3 '26
- R&D expense
- $110M
- 78% of opex
- Raised, last 4 qtrs
- +$108M
- net financing cash flow
- Next readout
- Dec 2026
- Phase 1/2 · cash past the catalyst
Cash & investments
Quarter-end balance
Operating cash flow
Per quarter; below zero is burn
R&D expense
Per quarter
Two views of the runway
Compare across the clusterThe outside view
2.7 years
Cash at Q3 '26 divided by the average burn of the last four quarters, $32.4M a month.
Management’s own date
12+ months
The latest filing states only the going concern minimum, that cash covers at least twelve months from issuance. No sharper date was filed.
Cash against the calendar
What the runway has to reach.
Dec 2026estimated
A Study Evaluating the Safety and Efficacy of BEAM-201 in Relapsed/Refractory T-Cell Acute Lymphoblastic Leukemia (T-ALL) or T-Cell Lymphoblastic Lymphoma (T-LL)
Lymphoblastic Lymphoma · T-Cell Lymphoblastic Leukemia/Lymphoma · Lymphoblastic Leukemia
NCT05885464 on ClinicalTrials.govDoes the cash reach it?
Cash past the catalyst
- Runway
- 2.7 years
- Time to the date
- 4 weeks
It is about 4 weeks out. At the current burn there is roughly 31 months of cash left on the far side of it, which is enough room to raise on the result rather than ahead of it.
Catalysts ahead
- Dec 2026Phase 1/2A Study Evaluating the Safety and Efficacy of BEAM-201 in Relapsed/Refractory T-Cell Acute Lymphoblastic Leukemia (T-ALL) or T-Cell Lymphoblastic Lymphoma (T-LL)
- Dec 2027Phase 1/2A Phase 1/2, Dose-Exploration Study to Evaluate the Safety and Efficacy of BEAM-301 in Patients With Glycogen Storage Disease Type Ia (GSDIa)
- Feb 2028Phase 1/2BEACON: A Study Evaluating the Safety and Efficacy of BEAM-101 in Patients With Severe Sickle Cell Disease
- May 2028Phase 1/2A Study to Evaluate the Safety and Efficacy of BEAM-302 in Adult Patients With Alpha-1 Antitrypsin Deficiency (AATD)
Pipeline
5 active trials, through phase 1/2.
Phase 1/2 · 4Phase 1 · 1
Interventional studies where this company is the lead sponsor, from ClinicalTrials.gov. Primary completion is when the last patient is measured on the primary endpoint, which is when the data exists rather than when it is announced. Extension, rollover and healthy-volunteer studies are listed but marked as non-catalysts, because they finish long after the result that mattered. Sponsors revise these dates as enrollment moves, so an estimate is a plan rather than a promise.
The controller’s read
What the filings say.
Generated from the numbers above using the same questions I ask when I open a client’s books: how long the cash lasts, what is driving the gap between loss and burn, and where the accounting judgment sits.
Get this read on your companyThe cash clears the next catalyst
The next dated event is a phase 1/2 readout in Dec 2026, about 4 weeks out. That leaves roughly 31 months of cash afterwards, which is the position you want: the raise can be negotiated on the data instead of on the calendar.
About 2.7 years of runway
Cash and investments of $1.04B at Q3 '26 against an average operating cash burn of $97.2M per quarter over the last four reported quarters runs out around May 2029. More than two years of runway means the finance conversation is about deployment, not survival.
Cash position up $193M since Q4 '24
Net financing inflows of $108M over the last four quarters, from equity, debt, or ATM sales, more than covered operating burn. The balance is the number the board watches; the trend is the number the auditors watch.
Net loss runs $23.7M above cash burn
The Q3 '26 net loss of $134M includes non-cash charges, including $18.6M of stock-based compensation, that do not consume cash. Burn, not net loss, is what runway is built on.
R&D is 78% of operating expenses
$110M of R&D against $142M of total operating expenses in Q3 '26, with G&A at $31.5M. For a clinical-stage company, the accounting questions live inside that R&D line: CRO and CMC accruals, milestone recognition, and what gets capitalized versus expensed under ASC 730.
Revenue of $307K in Q3 '26
Collaboration and license revenue under ASC 606 and ASC 808 is the single most judgment-heavy area in biotech accounting: performance obligations, variable consideration on milestones, and the split between revenue and cost-sharing.
$100M of long-term debt or convertible notes
Debt in a pre-revenue biotech usually comes with liquidity covenants and, for convertibles, embedded features that need ASC 815 and ASC 470 analysis each quarter.
Accumulated deficit of $1.99B
Total losses since inception. It is also roughly the size of the net operating loss carryforward the tax provision has to track, subject to Section 382 limits after each ownership change.
Quarterly detail, eight quarters
| Quarter | Cash & inv. | Op. cash flow | Net income | R&D | G&A | Revenue | Stock comp | Financing |
|---|---|---|---|---|---|---|---|---|
| Q4 '24 · Dec 31, 24 | $851M | −$76.4M | −$90.4M | $101M | $28.7M | $30.1M | $30.2M | $3.4M |
| Q1 '25 · Mar 31, 25 | $1.22B | −$104M | −$108M | $98.8M | $27.9M | $7.5M | $26.7M | $473M |
| Q2 '25 · Jun 30, 25 | $1.15B | −$76.5M | −$102M | $102M | $26.9M | $8.5M | $24.4M | $1.1M |
| Q3 '25 · Sep 30, 25 | $1.07B | −$81.5M | −$113M | $110M | $26.7M | $9.7M | $22.7M | $1.7M |
| Q4 '25 · Dec 31, 25 | $1.25B | −$83.3M | $243M | $99.3M | $32.3M | $114M | $20.4M | $1.9M |
| Q1 '26 · Mar 31, 26 | $1.21B | −$129M | −$94.3M | $105M | $34.4M | $31.7M | $19.0M | $96.6M |
| Q2 '26 · Jun 30, 26 | $1.15B | −$66.1M | −$123M | $95.1M | $31.9M | $490K | $19.3M | $7.5M |
| Q3 '26 · Sep 30, 26 | $1.04B | −$111M | −$134M | $110M | $31.5M | $307K | $18.6M | $2.3M |
Source: SEC EDGAR XBRL company facts, latest filed value for each period. Fourth quarters are derived from annual less nine-month figures; quarterly cash flows are derived from year-to-date amounts. Not investment advice. If a figure disagrees with the filing, the filing is right.