Edgewise Therapeutics Inc. reported a net loss of $50.2 million for the fourth quarter of 2025 and $117.6 million for the full year, a decline in year‑to‑year loss from $133.81 million in 2024. The company recorded no revenue, a typical situation for a clinical‑stage biopharmaceutical that has not yet launched a product. Cash, cash equivalents and marketable securities totaled $530.1 million as of December 31, 2025, giving the company an estimated runway of roughly 14 quarters at a quarterly burn of about $40 million.
The fourth‑quarter loss widened from $39.7 million in Q4 2024, while the full‑year loss narrowed, reflecting a modest improvement in operating efficiency despite increased research and development spending. Research and development expenses rose to $43.6 million in Q4 2025 from $37.5 million in the prior quarter, and general and administrative costs increased to $12.4 million from $9.4 million, underscoring the company’s investment‑heavy growth strategy.
Edgewise’s pipeline remains the focus of its capital allocation. The pivotal GRAND CANYON trial for its lead muscular dystrophy candidate sevasemten is expected to deliver top‑line data in the fourth quarter of 2026. The company also anticipates 12‑week Part D data from the CIRRUS‑HCM trial for its cardiovascular candidate EDG‑7500 in the first half of 2026, and Phase 1 data for EDG‑15400 in the same period.
"Following strong execution in 2025, we have entered a transformative year," said President and CEO Kevin Koch. "We remain on track to deliver pivotal GRAND CANYON top‑line data for sevasemten, with the potential to support the first marketing application for the treatment of Becker. We also expect CIRRUS‑HCM 12‑week Part D results for EDG‑7500 in HCM in the first half of 2026. Data from Part D will support refinement of our Phase 3 trial strategy in HCM."
The company’s robust cash position and disciplined burn rate provide a solid foundation for continued investment in its pipeline. With a 14‑quarter runway, Edgewise can fund ongoing clinical development and position itself for potential regulatory submissions and market entry in the coming years. The focus on precision medicines for rare neuromuscular and cardiac diseases places the company in a niche with significant unmet need, offering a clear strategic trajectory.
Overall, Edgewise’s financial results confirm its ability to sustain heavy R&D spending while maintaining a healthy liquidity buffer, setting the stage for the next set of clinical milestones that could unlock future revenue streams.
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