Entrada reports FY2022 net loss $94.6M; Vertex deal adds $224M upfront, extends cash into 2H 2025

Entrada Therapeutics, Inc.

Net loss $24.6M Q4, $94.6M FY2022; R&D expenses $15.7M Q4, $66.6M FY2022.
Cash, equivalents & securities $188.7M at Dec 31, 2022; runway extended into 2H 2025 after Vertex deal.
Vertex collaboration closed Feb 2023: $224M upfront + $26M equity; up to $485M milestones plus royalties.
FDA clinical hold on ENTR-601-44 IND; company working to resolve, aiming for healthy volunteer trial in 2023.
Selected ENTR-601-45 for Duchenne exon 45 skipping; IND planned for Q4 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Entrada Therapeutics, Inc. reported the fourth quarter and full year ending December 31, 2022 results: net income Net loss was $24.6 million for the fourth quarter of 2022 and $94.6 million for the full year of 2022.

Period: the fourth quarter and full year ending December 31, 2022
Net income: Net loss was $24.6 million for the fourth quarter of 2022 and $94.6 million for the full year of 2022
Result: reported results

Exact text from the filing

Entrada Therapeutics, Inc. announced its financial results for the year ended December 31, 2022 and other corporate updates.

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Entrada Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001689375-23-000017

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