5 Most Promising Gene Therapy Companies to Watch

3. Beam Therapeutics Inc. (NASDAQ:BEAM)

Market Capitalization as of November 12, 2022: $3.58 billion

Beam Therapeutics Inc. (NASDAQ:BEAM) develops genetic treatments for diseases such as leukemia, sickle cell disease, eye diseases, and central nervous system disorders. It is also based in Cambridge, Massachusetts.

Beam Therapeutics Inc. (NASDAQ:BEAM) announced in November 2022 that it aims to focus on its BEAM-101 editing drug for sickle cell disease instead of filing the BEAM-102 drug. The firm aims to enroll the first patient for BEAM-101 trials later this year, and its third quarter results revealed that revenue nearly doubled annually from $8.6 million to $15.6 million, but at the same time research and development expenditures jumped by 56% annually. The company ended the quarter with $1.1 billion of cash in hand.

Beam Therapeutics Inc. (NASDAQ:BEAM)’s largest investor is Catherine D. Wood’s ARK Investment Management which owns 8.7 million shares that are worth $309 million.

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