Editas Medicine Misses Revenue, Earnings Targets for Q4
One of the leading gene-editing companies on the market, Editas Medicine (NASDAQ: EDIT), reported its fourth-quarter and full-year financial results after the bell Wednesday. While revenue was higher for the quarter, the company missed both its earnings and revenue estimates.
As an early-stage clinical biotech, Editas doesn't have any products on the market yet -- it derives all of its revenue from collaboration and research agreements. That revenue came in at $12.3 million in Q4, more than twice the $6.1 million it reported in the year-ago period. On a full-year basis, however, Editas' revenue figures don't look as good, having fallen by around 30% to $20.5 million from 2018's result of $31.9 million.
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Source Fool.com
