Edgewise increases R&D spending with ongoing drug trials – BizWest

BOULDER – Edgewise Therapeutics Inc. (Nasdaq: EWTX), a Boulder-based muscle disease biopharmaceutical company, slightly increased its research and development spending in the third quarter of 2024 compared to the previous quarter as key drug trials continue.

“We continue to make great progress in our cardiac and skeletal muscle programs,” Edgewise CEO Kevin Koch said in a prepared statement. “We look forward to providing important updates (on several drug trial programs) in the coming months.”

Research and development expenses were $32.2 million in the third quarter of 2024, compared to $30.7 million in the second quarter of the year. The increase was largely due to higher spending on drug manufacturing

Edgewise posted a net loss of $34.1 million in the most recent period, compared to a net loss of $31.5 million in the immediately preceding quarter.

The company had cash, cash equivalents and marketable securities of $492.5 million at the end of the third quarter.

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