March 10, 2025 7:10am

including pre-funded warrants to purchase 1,404,988 shares of common stock at an offering price of $28.47 per pre-funded warrant with an exercise price of $0.01 per share.

BEAM closed Friday at $1.23 to $28.48 with a pre-open indication of $2.57 or +0.02% to $31.05

Gross proceeds from the offering are expected to be approximately $500.0 million expected to close on or about 3/11/2525

J.P. Morgan, Jefferies, Cantor, Citigroup and Wells Fargo Securities are acting as joint book-running managers for the offering.

 

Along with, initial safety and efficacy data from its P1/2 trial of BEAM-302, establishing clinical proof-of-concept as a potential treatment for alpha-1 antitrypsin deficiency (AATD) and for in vivo base editing.

  • Preliminary results from the 1st 3 single-ascending dose cohorts demonstrated that BEAM-302 was well tolerated, with single doses of BEAM-302 leading to durable dose-dependent correction of the disease-causing mutation.
  • AATD is an inherited genetic disorder that affects the lungs and/or liver, leading to early onset emphysema and liver disease, and for which there are no currently approved curative treatments.
  • BEAM-302 is a liver-targeting lipid-nanoparticle (LNP) formulation of a guide RNA and an mRNA encoding a base editor designed to correct the disease-causing PiZ mutation. Patients homozygous for this mutation, known as the PiZZ genotype, have very low circulating levels of functional alpha-1 antitrypsin (AAT) protein, all of which is the mutant form, known as Z-AAT, which accumulates and causes liver toxicity.
  • By correcting the PiZ mutation at the DNA level, BEAM-302 has the potential to be a one-time therapy that simultaneously reduces the amount of Z-AAT in circulation, generates therapeutic levels of corrected protein (M-AAT), and increases total and functional AAT in circulation above the 11µM protective threshold, thereby addressing the underlying pathophysiology of both the liver and lung disease.
  • It is estimated that approximately 100,000 individuals in the U.S. have the PiZZ genotype.

 

The Bottom Line: Pop-goes-the-weasel to the delight of investors ...