Entrada Therapeutics reported financial results for the second quarter ended June 30, 2025, on August 6, 2025. Cash, cash equivalents, and marketable securities were $354.0 million as of June 30, 2025, a decrease from $420.0 million at December 31, 2024. The company maintains a projected cash runway into Q2 2027, providing critical funding for its expanding pipeline.
Collaboration revenue for Q2 2025 was $2.0 million, a significant decrease from $94.7 million in Q2 2024. This decline is primarily due to the substantial completion of collaboration research plan activities associated with VX-670. Research & Development (R&D) expenses increased to $37.9 million for Q2 2025 from $32.0 million in Q2 2024, driven by costs for DMD programs and higher personnel costs. The net loss for Q2 2025 was $(43.1) million, compared to a net income of $55.0 million in Q2 2024.
The company achieved a key clinical milestone with the dosing of the first patient in the ELEVATE-44-201 clinical study, with data from the first patient cohort anticipated in H1 2026. ELEVATE-45-201 sites have been activated, and the first patient is on track to be dosed in Q3 2025, with data from the first cohort expected in mid-2026. Entrada also expanded its leadership team with the additions of Navid Khan, PhD, as Senior Vice President of Medical Affairs and Kiran Patki, MD, MSc, FFPM, as Senior Vice President of Clinical Development.
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