Edgewise grows R&D expenses, losses in fourth quarter

BOULDER — Clinical-stage, pre-revenue pharmaceutical company Edgewise Therapeutics Inc. (Nasdaq: EWTX) posted higher year-over-year losses in the fourth quarter of 2022, driven mostly by additional spending on research and development. 

The company, which markets itself as a developer of “orally bioavailable, targeted, small molecule therapies for the treatment of devastating muscle disorders,” posted a net loss of $19.4 million, or 31 cents per share, in the most recent quarter, up from $12.7 million, or 26 cents per share.

Research and development made up $16.6 million of the company’s expenses in the fourth quarter of 2022, an increase over the $9.1 million spent during the same period last year.

SPONSORED CONTENT

Federal District Court Rules Corporate Transparency Act Unconstitutional . . . But Most Small Businesses Must Still Comply

Lyons Gaddis Real Estate and Business Attorney Cameron Grant shares important details of the Corporate Transparency Act (CTA).

Edgewise said the increase was due to more spending on clinical trials and higher employee-related costs.

The firm’s “discovery platform continues to yield differentiated precision medicines,” Edgewise CEO Kevin Koch said in a prepared statement, and the company has displayed “continued momentum for our growing pipeline.”

Edewise’s cash, cash equivalents and marketable securities were $352 million as of Dec. 31, 2022.

Edgewise’s stock finished Thursday at $9.66, trading down about 2% on the day.