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Investing.com -- Edgewise Therapeutics , Inc. (NASDAQ:EWTX), a biopharmaceutical company focused on muscle diseases, reported a narrower-than-expected loss for the second quarter of 2025, sending its shares up 6% as investors responded positively to the company’s financial performance and clinical progress.
The company posted a quarterly loss of $0.34 per share, significantly better than analysts’ expectations of a $0.42 per share loss. Edgewise ended the quarter with a strong cash position of approximately $594 million as of June 30, 2025, providing runway for its advancing clinical programs.
"In the first half of 2025, we reached key milestones that bring us closer to delivering on our mission," said Kevin Koch, Ph.D., President and Chief Executive Officer of Edgewise.
Research and development expenses decreased to $33.6 million for the second quarter, down from $36.8 million in the previous quarter. The company attributed this $3.2 million reduction primarily to decreased clinical development activities for its lead drug candidates.
Edgewise continues to make progress with its muscular dystrophy program, particularly with sevasemten for Becker muscular dystrophy. The company reported that 99% of eligible participants enrolled in the MESA open-label extension trial, which demonstrated sustained disease stabilization in patients over extended treatment periods.
The company has also completed enrollment in GRAND CANYON, a pivotal placebo-controlled trial in Becker muscular dystrophy, with topline data expected in the fourth quarter of 2026. Additionally, Edgewise is advancing its cardiovascular programs, including EDG-7500 for hypertrophic cardiomyopathy.
General and administrative expenses remained stable at $9.1 million for the quarter, compared to $9.2 million in the previous quarter.
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