Editas Medicine, Inc.

Previous wording

This Quarterly Report on Form 10-Q contains forward-looking statements that involve substantial risks and uncertainties. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. All statements addressing our future operating performance and development timelines that we expect or anticipate will occur in the future, as well as expectations for cash runway, are forward-looking statements. There are a number of important risks and uncertainties that could cause our actual results to differ materially from those indicated by forward-looking statements, including uncertainties inherent in the initiation and completion of preclinical studies and clinical development of our product candidates; availability and timing of results from preclinical studies; expectations for regulatory approvals to commence and conduct trials or to market products; and availability of cash resources sufficient to fund our foreseeable and unforeseeable operating expenses and capital expenditure requirements for the periods anticipated. These and other risks are described in greater detail in the Annual Report under the captions “Risk Factor Summary” and Part I, “Item 1A. Risk Factors,” as updated by our subsequent filings with the SEC. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments that we may make.

Current wording

This Quarterly Report on Form 10-Q contains forward-looking statements that involve substantial risks and uncertainties. The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. All statements addressing our future operating performance and development timelines that we expect or anticipate will occur in the future, as well as expectations for cash runway, are forward-looking statements. There are a number of important risks and uncertainties that could cause our actual results to differ materially from those indicated by forward-looking statements, including uncertainties inherent in the initiation and completion of preclinical studies and clinical development of our product candidates; availability and timing of results from preclinical studies; expectations for regulatory approvals to commence and conduct trials or to market products; and availability of cash resources sufficient to fund our foreseeable and unforeseeable operating expenses and capital expenditure requirements. These and other risks are described in greater detail in the Annual Report under the captions “Risk Factor Summary” and Part I, “Item 1A. Risk Factors,” as updated by our subsequent filings with the SEC. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments that we may make.

Previous wording

In September 2025, we announced the nomination of our leadin vivo development candidate, EDIT-401, an experimental, potential best-in-class, one-time therapy to significantly reduce LDL-cholesterol (“LDL-C”) through upregulation of the LDL receptor (“LDLR”). EDIT-401 is designed to treat elevated levels of LDL-C, or hyperlipidemia, by directly editing the noncoding region of the LDLR gene to increase LDLR protein expression and reduce LDL-C levels. In preclinical studies, a single dose of EDIT-401 achieved approximately 90% or greater mean reductions in LDL-C, lipoprotein(a) (Lp(a)), an independent risk factor for atherosclerotic cardiovascular disease (“ASCVD”), and apolipoprotein B (ApoB), a key measure of total plaque-causing cholesterol particles and predictive measure for ASCVD, with rapid and dose-dependent effect, in non-human primates (“NHPs”). LDL-C mean reduction of 90% or greater with a single dose of EDIT-401 in NHPs was durable through approximately six months. In addition, in our preclinical studies, including an ongoing Good Laboratory Practice (GLP) toxicology study in NHPs, a single dose of EDIT-401 of 1.5 mg/kg had no adverse clinical observations, no notable treatment-related liver enzyme elevations, and no liver histopathology findings in non-GLP toxicology.

Current wording

In September 2025, we announced the nomination of our leadin vivo development candidate, EDIT-401, an experimental, potential best-in-class, one-time therapy to significantly reduce LDL-cholesterol (“LDL-C”) through upregulation of the LDL receptor (“LDLR”). EDIT-401 is designed to treat elevated levels of LDL-C, or hyperlipidemia, by directly editing the noncoding region of the LDLR gene to increase LDLR protein expression and reduce LDL-C levels. In ongoing preclinical studies in non-human primates (“NHPs”), a single dose of EDIT-401 achieved approximately 90% or greater reductions in LDL-C that were maintained over 10 months, and approximately 90% mean reductions in lipoprotein(a) (Lp(a)), an independent risk factor for atherosclerotic cardiovascular disease (“ASCVD”), and apolipoprotein B (ApoB), a key measure of total plaque-causing cholesterol particles and predictive measure for ASCVD, that were maintained over three months. In addition, in our preclinical studies of EDIT-401 it has demonstrated a consistent safety profile with targeted delivery to the liver, no evidence of genotoxicity, and no adverse liver findings at a dose of 1.5 mg/kg.

Previous wording

We continue to progress towards initiating a Phase 1/2 clinical trial of EDIT-401 in patients with Heterozygous Familial Hypercholesterolemia (“HeFH”). We have made a submission to the Human Research Ethics Committee in Australia for the trial and are on track to submit a Clinical Trial Notification in August 2026. The Phase 1/2 clinical trial will evaluate the safety, tolerability, and efficacy of a single dose of EDIT-401. The trial is designed in two parts. Part 1 is expected to be a single ascending dose, dose-finding study. Eligible patients will have a clinical diagnosis of HeFH with an elevated LDL-C despite treatment with two or more lipid lowering therapies. We plan to complete enrollment of Part 1 and have topline data results available in 2027. We expect that Part 2 of the trial will be a single-dose randomized, placebo-controlled expansion study, and that if the data from the Phase 1/2 trial warrant advancing EDIT-401, we would advance EDIT-401 into a single, pivotal randomized, placebo-controlled Phase 3 clinical trial in patients with HeFH, with or without existing ASCVD or coronary artery disease. These clinical trial plans are subject to further discussion and alignment with regulatory authorities. We have selected four clinical trial sites across Australia and New Zealand. We expect to report a data update in the first quarter of 2027 and share data from at least three patients in the EDIT-401 Phase 1/2 trial by the end of the third quarter of 2027.

Current wording

In October 2026, we announced that we had received approval to initiate the Phase 1/2 Strive clinical trial of EDIT-401 in patients with heterozygous familial hypercholesterolemia (“HeFH”) in Australia. The trial has received Human Research Ethics Committee approval and completed the Clinical Trial Notification process with Australia’s Therapeutic Goods Administration and has also been submitted for review in New Zealand. If approved in New Zealand, patients in both countries will be eligible to enroll in the Strive trial. The Strive trial is designed to evaluate the safety, tolerability, and efficacy of a single dose of EDIT-401. The trial is designed in two parts: Part 1 is a single ascending dose, dose-finding, open-label trial. Eligible patients will have a clinical diagnosis of HeFH with an elevated LDL-C despite treatment with two or more lipid lowering therapies. We expect that Part 2 will be a single-dose randomized, placebo-controlled expansion study. If the data from the Phase 1/2 trial warrants advancing EDIT-401, we would advance EDIT-401 into a single, pivotal randomized, placebo-controlled Phase 3 clinical trial in patients with HeFH, with or without existing ASCVD or coronary artery disease. We have selected six clinical trial sites across Australia and New Zealand. We are on track to begin patient dosing in 2026 and report initial safety and tolerability data in the first quarter of 2027. We expect to complete enrollment in Part 1 of the Strive study, with topline safety and efficacy results from Part 1 available in the second half of 2027.

Previous wording

Our discovery and development efforts further include HSCs and other cells and tissues. Building on our experiencein our clinical trials of renizgamglogene autogedtemcel (“reni-cel”), we have achievedin vivo preclinical proof-of-concept data of HSC editing in NHPs. In addition, we previously announcedin vivo delivery to two additional cell types in humanized mice using our proprietary LNP targeting platform, demonstrating the “plug ‘n play” potential of our proprietary extrahepatic LNP platform. We intend to continue optimizing candidates for our HSC program and exploring other cell types and tissues for development, but are focusing our resources on the advancement of our lead EDIT-401 program.

Current wording

Our discovery and development efforts further include HSCs and other cells and tissues. Building on our experience in our clinical trials of renizgamglogene autogedtemcel (“reni-cel”), we have achievedin vivo preclinical proof-of-concept data of HSC editing in NHPs. In addition, we previously announcedin vivo delivery to two additional cell types in humanized mice using our proprietary LNP targeting platform, demonstrating the “plug ‘n play” potential of our proprietary extrahepatic LNP platform. We intend to continue optimizing candidates for our HSC program and exploring other cell types and tissues for development, but are focusing our resources on the advancement of our lead EDIT-401 program.

Previous wording

We are pursuing the right combination of gene editing and targeted delivery tools through internal development and the in-licensing of complementary technologies to build our preclinical pipeline and accelerate the achievement of our goal of delivering lifesaving medicines to patients with previously untreatable diseases. Through in-licensing of complementary technologies, we can expand our existing gene editing platform and further drive the development of ourin vivo pipeline. This was demonstrated with our entry in 2024 into a collaboration and license agreement to access LNPs targeting the liver, including the LNP we are using in our EDIT-401 program. We also actively seek opportunities to out-license and partner our robust intellectual property portfolio to drive the development of CRISPR-based medicines in therapeutic areas outside of our core focus and to provide non-dilutive capital. For example, we are leveraging partnerships to progress engineered cell medicines to treat various cancers, including in our collaboration with Bristol-Myers Squibb Company (“BMS”) through its wholly owned subsidiary, Juno Therapeutics, Inc. (“Juno Therapeutics”). This collaboration, which leverages our Cas9 and AsCas12a platform technologies, seeks to advance alpha-beta T-cell experimental medicines for the treatment of solid tumors, liquid tumors, and autoimmune disease, and has resulted in 14 total programs to date, including BMS’ CD19 HD Allo CAR T program for the treatment of autoimmune disease currently in Phase I clinical development. The term for BMS to opt-in to additional research programs expires in November 2026, but our collaboration with respect to those ongoing programs that have been selected will continue past that date.

Current wording

We are pursuing the right combination of gene editing and targeted delivery tools through internal development and the in-licensing of complementary technologies to build our preclinical pipeline and accelerate the achievement of our goal of delivering lifesaving medicines to patients with previously untreatable diseases. Through in-licensing of complementary technologies, we can expand our existing gene editing platform and further drive the development of ourin vivo pipeline. This was demonstrated with our entry in 2024 into a collaboration and license agreement to access LNPs targeting the liver, including the LNP we are using in our EDIT-401 program. We also actively seek opportunities to out-license and partner our robust intellectual property portfolio to drive the development of CRISPR-based medicines in therapeutic areas outside of our core focus and to provide non-dilutive capital. For example, we are leveraging partnerships to progress engineered cell medicines, including in our collaboration with Bristol-Myers Squibb Company (“BMS”) through its wholly owned subsidiary, Juno Therapeutics, Inc. (“Juno Therapeutics”). This collaboration, which leverages our Cas9 and Cas12a platform technologies, seeks to advance alpha-beta T-cell experimental medicines for the treatment of solid tumors, liquid tumors, and autoimmune disease, and resulted in 14 total licensed programs. One or more programs are incorporated into a licensed product, including BMS’ CD19 HD Allo CAR T for the treatment of autoimmune disease currently in Phase I clinical development and BMS’ CD70 HD Allo CAR T for the treatment of clear cell renal cell carcinoma, which had its IND accepted in the third quarter of 2026. The collaboration agreement, including the term for BMS to opt-in to additional research programs, expires in November 2026. However, our license agreement with Juno Therapeutics continues in effect with respect to those ongoing programs that were selected prior to the opt-in expiration date.

Previous wording

In addition, in December 2023, we and Vertex Pharmaceuticals, Inc. (“Vertex”) entered into a license agreement (the “Vertex License Agreement”), under which Vertex obtained a non-exclusive license for our Cas9 gene editing technology forex vivo gene editing medicines targeting the BCL11A gene in the fields of SCD and TDT, including Vertex’s CASGEVYTM (exagamglogene autotemcel). We received a $50.0 million upfront cash payment in the fourth quarter of 2023 and the 2024 annual license fee of $10.0 million in the first quarter of 2024. The Vertex License Agreement further provides for the payment by Vertex of a potential additional $50.0 million contingent upfront payment and further future fixed and sales-based annual license fees, ranging from $5.0 million to $40.0 million annually, inclusive of certain sales-based annual license fee increases, through 2034. We are required to pay The Broad Institute, Inc. (“Broad”) and the President and Fellows of Harvard College (“Harvard”) a mid-double-digit percentage of amounts payable to us from Vertex under the Vertex License Agreement as it relates to Cas9 technology licensed by us from Broad and Harvard (the “Cas9-I License Agreement”). In October 2024, we entered into an agreement (the “DRI Agreement”) with a wholly owned subsidiary of DRI Healthcare Trust (“DRI”) providing for an upfront cash payment by DRI to us of $57.0 million. Under the DRI Agreement, DRI is purchasing up to 100% of certain future fixed and sales-based annual license fees that we are entitled to receive under the Vertex License Agreement, which fees range from $5.0 million to

Current wording

In addition, in December 2023, we and Vertex Pharmaceuticals, Inc. (“Vertex”) entered into a license agreement (the “Vertex License Agreement”), under which Vertex obtained a non-exclusive license for our Cas9 gene editing technology forex vivo gene editing medicines targeting the BCL11A gene in the fields of SCD and TDT, including Vertex’s CASGEVYTM (exagamglogene autotemcel). We received a $50.0 million upfront cash payment in the fourth quarter of 2023 and the 2024 annual license fee of $10.0 million in the first quarter of 2024. The Vertex License Agreement further provides for the payment by Vertex of a potential additional $50.0 million contingent upfront payment and further future fixed and sales-based annual license fees, ranging from $5.0 million to $40.0 million annually, inclusive of certain sales-based annual license fee increases, through 2034. We are required to pay The Broad Institute, Inc. (“Broad”) and the President and Fellows of Harvard College (“Harvard”) a mid-double-digit percentage of amounts payable to us from Vertex under the Vertex License Agreement as it relates to Cas9 technology licensed by us from Broad and Harvard (the “Cas9-I License Agreement”). In October 2024, we entered into an agreement (the “DRI Agreement”) with a wholly owned subsidiary of DRI Healthcare Trust (“DRI”) providing for an upfront cash payment by DRI to us of $57.0 million. Under the DRI Agreement, DRI is purchasing up to 100% of certain future fixed and sales-based annual license fees that we are entitled to receive under the Vertex License Agreement, which fees range from $5.0 million to $40.0 million per year, including increases based on sales. In addition, DRI is purchasing a mid-double-digit percentage of a $50.0 million contingent upfront payment that we may receive under the Vertex License Agreement. All amounts above will be adjusted to exclude payments that we owe under the Cas9-I License Agreement. We have retained rights to certain portions of certain other sales-based annual license fees and the contingent upfront payment that may become due under the Vertex License Agreement, and the amounts that correspond to our licensor obligations.

Previous wording

We have incurred significant operating losses since inception. Our net losses were $43.2 million and $129.3 million for the six months ended June 30, 2026 and 2025, respectively. As of June 30, 2026, we had an accumulated deficit of $1.7 billion. We expect to continue to incur significant expenses and operating losses for the foreseeable future. Our net losses may fluctuate significantly from quarter to quarter and from year to year. We anticipate that our expenses will increase as we continue to support preclinical studies and prepare for the clinical development of EDIT-401; commence and conduct our planned clinical trials of EDIT-401; continue our current research programs and our preclinical development activities; seek to identify additional research programs and additional product candidates; initiate preclinical testing for other product candidates we identify and develop; maintain, expand, and protect our intellectual property portfolio, including reimbursing our licensors for such expenses related to the intellectual property that we in-license from such lice nsors; further develop our gene editing platform; and hire personnel. We do not expect to be profitable for the year ending December 31, 2026 or for the foreseeable future.

Current wording

We have incurred significant operating losses since inception. Our net losses were $66.6 million and $154.4 million for the nine months ended September 30, 2026 and 2025, respectively. As of September 30, 2026, we had an accumulated deficit of $1.7 billion. We expect to continue to incur significant expenses and operating losses for the foreseeable future. Our net losses may fluctuate significantly from quarter to quarter and from year to year. We anticipate that our expenses will increase as we commence and conduct clinical trials of EDIT-401; continue our current research programs and preclinical development activities; seek to identify additional research programs and additional product candidates; initiate preclinical testing for other product candidates that we identify; further develop our gene editing platform; maintain, expand, and protect our intellectual property portfolio, including reimbursing our licensors for such expenses related to the intellectual property that we in-license from such lice nsors; and hire additional personnel to support our continued preclinical development and clinical trials. We do not expect to be profitable for the year ending December 31, 2026 or for the foreseeable future.

Previous wording

In connection with our collaboration with BMS, we have received an aggregate of $159.0 million in payments, which have primarily consisted of the initial upfront and amendment payments, development milestone payments, research funding support, and certain opt-in fees. We no longer receive research funding support. During the three and six months ended June 30, 2026 and 2025, we did not recognize any revenue related to our collaboration with BMS. As of June 30, 2026, we had $32.3 million of deferred revenue related to BMS, all of which is classified as short-term deferred revenue on our condensed consolidated balance sheet. Under this collaboration, we recognize revenue upon delivery of option packages to BMS or upon receipt of development milestone payments. We expect that our revenue will fluctuate from quarter-to-quarter and year-to-year as a result of the timing of when we deliver such option packages or receive such milestone payments.

Current wording

In connection with our collaboration with BMS, we have received an aggregate of $166.5 million in payments, which have primarily consisted of the initial upfront and amendment payments, development milestone payments, research funding support, and certain opt-in fees. We no longer receive research funding support. As of September 30, 2026, we had $32.3 million of deferred revenue related to BMS, all of which is classified as short-term deferred revenue on our condensed consolidated balance sheet. Under this collaboration, we recognize revenue upon the exercise or expiration of material rights or upon achievement of development milestones. We expect that our revenue will fluctuate from quarter-to-quarter and year-to-year as a result of the timing of the exercise or expiration of material rights and the achievement of development milestones.

Previous wording

For the six months ended June 30, 2026 and 2025, other income (expense), net consisted primarily of interest income and the amortization of premiums or discounts on marketable securities and interest accretion related to the liability for the sale of future revenues.

Current wording

Other income (expense), net consisted primarily of interest income, the accretion of discounts and amortization of premiums on marketable securities, and interest accretion related to the liability for the sale of future revenues for the three and nine months ended September 30, 2026 and 2025.

Previous wording

During the six months ended June 30, 2026, we had the following critical accounting policies and estimates as described in Part II, “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations—Critical Accounting Policies and Estimates” in the Annual Report.

Current wording

During the nine months ended September 30, 2026, we had the following critical accounting policies and estimates as described in Part II, “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations—Critical Accounting Policies and Estimates” in the Annual Report.

Previous wording

We recognize revenue in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), Topic 606, Revenue Recognition (“ASC 606”). Accordingly, we recognize revenue following the five-step model prescribed under Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers: (i) identify contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenues when (or as) we satisfy the performance obligation. We only apply the five-step model to contracts when it is probable that we will collect the consideration we are entitled to in exchange for the goods or services we transfer to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, we assess the goods or services promised within each contract and determine those that are performance obligations, and whether each promised good or service is distinct. We then recognize as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. As part of the accounting for these arrangements, we must develop assumptions that require judgment to determine the standalone selling price for each performance obligation identified in the contract and use judgment in the determination of the transaction price and the application of the constraint. The determination of standalone selling price has not had a significant impact on the accounting for our revenue arrangements given the nature of the performance obligations. We have also not been required to apply significant judgment in determining the transaction price given the nature of the variable consideration and the application of the constraint.

Current wording

We recognize revenue in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers (“ASC 606”). Accordingly, we recognize revenue following the five-step model prescribed under Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers: (i) identify contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenues when (or as) we satisfy the performance obligation. We only apply the five-step model to contracts when it is probable that we will collect the consideration we are entitled to in exchange for the goods or services we transfer to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, we assess the goods or services promised within each contract and determine those that are performance obligations, and whether each promised good or service is distinct. We then recognize as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. As part of the accounting for these arrangements, we must develop assumptions that require judgment to determine the standalone selling price for each performance obligation identified in the contract and use judgment in the determination of the transaction price and the application of the constraint. The determination of standalone selling price has not had a significant impact on the accounting for our revenue arrangements given the nature of the performance obligations. We have also not been required to apply significant judgment in determining the transaction price given the nature of the variable consideration and the application of the constraint.

Previous wording

Collaboration and other research and development revenues increased by $8.3 million to $11.9 million for the three months ended June 30, 2026 compared to $3.6 million for the same period in 2025. The increase was primarily attributable to recognition of deferred revenue related to the expiration of certain rights to opt-in to additional research programs under our collaboration with BMS.

Current wording

Collaboration and other research and development revenues increased by $2.8 million to $10.4 million for the three months ended September 30, 2026 compared to $7.5 million for the same period in 2025. The increase was primarily attributable to revenue recognized in connection with clinical development milestones achieved by a strategic partner.

Previous wording

Research and development expenses increased by $4.0 million to $20.2 million for the three months ended June 30, 2026 compared to $16.2 million for the same period in 2025. The following table summarizes our research and development expenses for the three months ended June 30, 2026 and 2025, together with the changes in those items in dollars (in thousands) and the respective percentages of change:

Current wording

Research and development expenses increased by $1.4 million to $21.2 million for the three months ended September 30, 2026 compared to $19.8 million for the three months ended September 30, 2025. The following table summarizes our research and development expenses for the three months ended September 30, 2026 and 2025, together with the changes in those items in dollars (in thousands) and the respective percentages of change:

Previous wording

•approximately $0.2 million in decreased stock-based compensation expenses; and

Current wording

•An increase of $0.3 million in stock-based compensation expenses; and

Previous wording

These decreases were partially offset by approximately $1.3 million in increased intellectual property and patent related legal fees due to increased legal activity related to intellectual property defense and $0.5 million in increased facility and other expenses.

Current wording

•An increase of $0.8 million in intellectual property and patent related fees due to increased legal activity related to intellectual property defense;

Previous wording

For the three months ended June 30, 2026, and June 30, 2025 other income (expense), net was a $0.3 million net benefit and a $1.7 million net charge, respectively. The increase is attributable to increased investment income due to an increase in our investments for the three months ended June 30, 2026 compared to the three months ended June 30, 2025.

Current wording

For the three months ended September 30, 2026 and 2025, other income (expense), net was a $0.9 million net benefit and a $0.6 million net charge, respectively. The increase was primarily attributable to lower interest accretion related to the liability for the sale of future revenues for the three months ended September 30, 2026 compared to the three months ended September 30, 2025.

Previous wording

The following table summarizes our results of operations for the six months ended June 30, 2026 and 2025, together with the changes in those items in dollars (in thousands) and the respective percentages of change:

Current wording

The following table summarizes our results of operations for the nine months ended September 30, 2026 and 2025, together with the changes in those items in dollars (in thousands) and the respective percentages of change:

Previous wording

Collaboration and other research and development revenues increased by $6.5 million to $14.7 million for the six months ended June 30, 2026 compared to $8.2 million for the six months ended June 30, 2025. The increase was primarily attributable to the recognition of deferred revenue related to the expiration of certain rights to opt-in to additional research programs under our collaboration with BMS.

Current wording

Collaboration and other research and development revenues increased by $9.3 million to $25.1 million for the nine months ended September 30, 2026 compared to $15.8 million for the nine months ended September 30, 2025. The increase was primarily attributable to the recognition of deferred revenue related to the expiration of certain rights to opt in to additional research programs under our collaboration with BMS.

Previous wording

Research and development expenses decreased by $5.0 million to $37.8 million for the six months ended June 30, 2026 compared to $42.8 million for the six months ended June 30, 2025. The following table summarizes our research and development expenses for the six months ended June 30, 2026 and 2025, together with the changes in those items in dollars (in thousands) and the respective percentages of change:

Current wording

Research and development expenses decreased by $3.6 million to $59.0 million for the nine months ended September 30, 2026 compared to $62.5 million for the nine months ended September 30, 2025. The following table summarizes our research and development expenses for the nine months ended September 30, 2026 and 2025, together with the changes in those items in dollars (in thousands) and the respective percentages of change:

Previous wording

•approximately $2.2 million in decreased facility expenses primarily due to the end of leases for manufacturing space; and

Current wording

•A decrease of $2.6 million in facility expenses primarily due to the end of leases for manufacturing space;

Previous wording

•approximately $0.6 million in increased external research and development expenses.

Current wording

•A decrease of $0.6 million in external research and development expenses; and

Previous wording

•approximately $2.3 million in increased other expenses related to professional services to support the progression of EDIT-401; and

Current wording

•An increase of $2.5 million in other expenses related to professional services to support the progression of EDIT-401.

Previous wording

General and administrative expenses decreased by $1.3 million to $11.6 million for the three months ended June 30, 2026 compared to $12.9 million for the three months ended June 30, 2025. The following table summarizes our general and administrative expenses for the three months ended June 30, 2026 and 2025, together with the changes in those items in dollars (in thousands) and the respective percentages of change:

Current wording

General and administrative expenses decreased by $3.2 million to $35.3 million for the nine months ended September 30, 2026 compared to $38.6 million for the nine months ended September 30, 2025. The following table summarizes our general and administrative expenses for the nine months ended September 30, 2026 and 2025, together with the changes in those items in dollars (in thousands) and the respective percentages of change:

Previous wording

The decrease in general and administrative expenses for the three months ended June 30, 2026 compared to the three months ended June 30, 2025 was primarily attributable to:

Current wording

The decrease in general and administrative expenses for the nine months ended September 30, 2026 compared to the nine months ended September 30, 2025 was primarily attributable to:

Previous wording

•approximately $2.2 million in decreased professional service expenses related to reduced strategic business activities; and

Current wording

•A decrease of $1.1 million in professional service expenses related to reduced strategic business activities; and

Previous wording

•approximately $1.9 million in increased intellectual property and patent related fees due to increased legal activity related to intellectual property defense; and

Current wording

•An increase of $1.9 million in intellectual property and patent related fees due to increased legal activity related to intellectual property defense; and

Previous wording

During the six months ended June 30, 2026 we recorded a $1.3 million benefit related to restructuring and impairment compared to a $66.9 million expense for the six months ended June 30, 2025 due to the Discontinuation and the Reduction. The following table summarizes our restructuring charges for the six months ended June 30, 2026 and 2025, together with the changes in those items in dollars (in thousands) and the respective percentages of change:

Current wording

During the nine months ended September 30, 2026, we recorded a $1.3 million net benefit related to restructuring and impairment compared to a $66.9 million expense for the nine months ended September 30, 2025 due to the Discontinuation and the Reduction. The following table summarizes our restructuring charges for the nine months ended September 30, 2026 and 2025, together with the changes in those items in dollars (in thousands) and the respective percentages of change:

Previous wording

The restructuring and impairment benefit for the three months ended June 30, 2026 is primarily attributable to favorable adjustments to prior estimated costs for contracts associated with the Discontinuation upon finalization of contract costs.

Current wording

The restructuring and impairment benefit for the nine months ended September 30, 2026 is primarily attributable to favorable adjustments to prior estimated costs for contracts associated with the Discontinuation upon finalization of contract costs.

Previous wording

During the six months ended June 30, 2025, we recorded $4.3 million, $52.3 million, $6.5 million and $3.7 million related to employee termination benefits, reni-cel-related contract costs, acceleration in expense due to changes in useful life estimates for leasehold improvements, software and a right-of-use asset, and impairment charges, respectively, due to the Discontinuation and the Reduction.

Current wording

During the nine months ended September 30, 2025, we recorded $4.3 million, $52.3 million, $6.5 million and $3.7 million related to employee termination benefits, reni-cel-related contract costs, acceleration in expense due to changes in useful life estimates for leasehold improvements, software and a right-of-use asset, and impairment charges, respectively, due to the Discontinuation and the Reduction.

Previous wording

For the six months ended June 30, 2026 and June 30, 2025, other income (expense), net was a $0.3 million net benefit and a $1.6 million net charge, respectively, which primarily relates to interest income and accretion of discounts and premiums associated with marketable securities and interest accretion related to the liability for the sale of future revenues. The increase for the six months ended June 30, 2026 is attributable to increased investment income due to an increase in our investments compared to the six months ended June 30, 2025.

Current wording

For the nine months ended September 30, 2026 and September 30, 2025, other income (expense), net was a $1.2 million net benefit and a $2.2 million net charge, respectively, and consisted primarily of interest income, accretion of discounts and amortization of premiums on marketable securities, and interest accretion related to the liability for the sale of future revenues. The increase for the nine months ended September 30, 2026 was primarily attributable to lower interest accretion related to the liability for the sale of future revenues compared to the nine months ended September 30, 2025.

Previous wording

As of June 30, 2026, we have raised an aggregate of $1.2 billion in net proceeds through the sale of shares of our common stock in public offerings and at-the-market offerings. We also have funded our business from our research collaboration with BMS through its wholly owned subsidiary Juno Therapeutics, our former strategic alliance with Allergan (which was terminated in August 2020), payments received under the DRI Agreement in connection with the Vertex License Agreement, and payments under the Vertex License Agreement. As of June 30, 2026, we had cash, cash equivalents, and marketable securities of $211.6 million.

Current wording

As of September 30, 2026, we have raised an aggregate of $1.2 billion in net proceeds through the sale of shares of our common stock in public offerings and at-the-market offerings. We also have funded our business from our research collaboration with BMS through its wholly owned subsidiary Juno Therapeutics, our former strategic alliance with Allergan (which was terminated in August 2020), payments received under the DRI Agreement in connection with the Vertex License Agreement, and payments under the Vertex License Agreement. As of September 30, 2026, we had cash, cash equivalents, and marketable securities of $190.2 million.

Previous wording

In May 2026, we completed a public offering (the “Offering”) in which we sold 55,555,556 shares of our common stock and accompanying common stock warrants to purchase up to 55,555,556 shares of our common stock (or pre-funded warrants for shares of our common stock in lieu thereof). We received net proceeds of approximately $116.9 million after deducting underwriting discounts and commissions and other costs, and excluding any proceeds that may be received from the exercise of the common stock warrants. If all of the common stock warrants sold in the Offering were to be exercised in cash for shares of our common stock, we would receive additional proceeds of approximately $192.5 million.

Current wording

In May 2026, we completed a public offering (the “Offering”) in which we sold 55,555,556 shares of our common stock and accompanying common stock warrants to purchase up to 55,555,556 shares of our common stock (or pre-funded warrants for shares of our common stock in lieu thereof). We received net proceeds of $116.9 million after deducting underwriting discounts and commissions and other costs, and excluding any proceeds that may be received from the exercise of the common stock warrants. If all of the common stock warrants sold in the Offering were to be exercised in cash for shares of our common stock, we would receive additional net proceeds of $192.5 million.

Previous wording

In May 2021, we entered into a common stock sales agreement (the “Sales Agreement”) with TD Securities (USA) LLC (as successor to Cowen and Company, LLC) (“TD Cowen”), under which we from time to time can issue and sell shares of our common stock through TD Cowen in at-the-market offerings for aggregate gross sale proceeds of up to $300.0 million. We amended the Sales Agreement in February 2024 in connection with filing a new registration statement. In March 2025, we further amended the Sales Agreement in connection with amending our existing shelf registration statement following the loss of our status as a “well-known seasoned issuer” (as defined under Rule 405 of the Securities Act of 1933, as amended), reducing the amount of shares of common stock we may issue and sell through TD Cowen to aggregate gross sale proceeds of up to $150.0 million (the “ATM Facility”). In May 2026, we notified TD Cowen that we were suspending and terminating the prospectus supplement, dated March 21, 2025, related to the Sales Agreement. We will not make any sales of our common stock pursuant to the Sales Agreement unless and until a new prospectus or prospectus supplement is filed and, if applicable, a new registration statement covering such shares of common stock is declared effective by the SEC. The Sales Agreement remains in full force and effect. As of June 30, 2026, we have sold 14,327,365 shares of our common stock under the ATM Facility at a weighted average price of$3.07 per share for aggregate gross proceeds of$43.9 million and have$106.1 million of shares of our common stock remaining available for issuance and sale under the ATM Facility.

Current wording

In May 2021, we entered into a common stock sales agreement (the “Cowen Sales Agreement”) with TD Securities (USA) LLC (as successor to Cowen and Company, LLC) (“TD Cowen”), under which we from time to time could issue and sell shares of our common stock through TD Cowen in at-the-market offerings for aggregate gross sale proceeds of up to $300.0 million. We amended the Cowen Sales Agreement in March 2025 in connection with amending our existing shelf registration statement following the loss of our status as a “well-known seasoned issuer” (as defined under Rule 405 of the Securities Act of 1933, as amended), reducing the amount of shares of common stock we could issue and sell through TD Cowen pursuant to the Cowen Sales Agreement to aggregate gross sale proceeds of up to$150.0 million (the “Cowen ATM Facility”). In May 2026, we notified TD Cowen that we were suspending and terminating the prospectus supplement, dated March 21, 2025, related to the Cowen Sales Agreement, and in August 2026 we terminated the Cowen Sales Agreement. Prior to the termination of the Cowen Sales Agreement, we had sold 14,327,365 shares of our common stock under the Cowen ATM Facility at a weighted average price of$3.07 per share for aggregate gross proceeds of$43.9 million.

Previous wording

In addition to our existing cash and cash equivalents, we are eligible to earn milestone and other payments under our collaboration with BMS and our other collaboration and license agreements. Our ability to earn applicable milestone and other payments and the timing of earning these amounts are dependent upon the timing and outcome of development, regulatory and commercial activities and, as such, are uncertain at this time. As of June 30, 2026, our right to contingent payments under our collaboration with BMS, as well as the retained portions of the contingent upfront payment and other amounts under the Vertex License Agreement, are our only significant committed potential external source of funds.

Current wording

In addition to our existing cash, cash equivalents, and marketable securities, we are eligible to earn milestone and other payments under our collaboration with BMS and our other collaboration and license agreements. Our ability to earn applicable milestone and other payments and the timing of earning these amounts are dependent upon the timing and outcome of development, regulatory and commercial activities and, as such, are uncertain at this time. As of September 30, 2026, our right to contingent payments under our collaboration with BMS, as well as the retained portions of the contingent upfront payment and other amounts under the Vertex License Agreement, are our only significant committed potential external source of funds.

Previous wording

The following table provides information regarding our cash flows for the six months ended June 30, 2026 and 2025 (in thousands):

Current wording

The following table provides information regarding our cash flows for the nine months ended September 30, 2026 and 2025 (in thousands):

Previous wording

Net cash used in operating activities was approximately $52.6 million for the six months ended June 30, 2026, which primarily consisted of operating expenses related to our ongoing research and preclinical efforts and supporting business operations.

Current wording

Net cash used in operating activities was $73.8 million for the nine months ended September 30, 2026, which primarily consisted of operating expenses related to our ongoing research and preclinical efforts and supporting business operations.

Previous wording

Net cash used in operating activities was approximately $98.0 million for the six months ended June 30, 2025, which primarily consisted of operating expenses that related to our ongoing research efforts, the wind-down of clinical and manufacturing activities in support of our former reni-cel program and supporting business operations.

Current wording

Net cash used in operating activities was $128.9 million for the nine months ended September 30, 2025, which primarily consisted of operating expenses that related to our ongoing research and preclinical efforts, the wind-down of clinical and manufacturing activities in support of our former reni-cel program and supporting business operations.

Previous wording

Net cash used in investing activities was approximately $29.7 million for the six months ended June 30, 2026, primarily related to purchases of marketable securities of $29.7 million.

Current wording

Net cash used in investing activities was $96.7 million for the nine months ended September 30, 2026, primarily related to purchases of marketable securities of $116.7 million, partially offset by proceeds from maturities of marketable securities of $20.0 million.

Previous wording

Net cash provided by investing activities was approximately $99.0 million for the six months ended June 30, 2025, primarily related to the proceeds from the maturities of marketable securities of $99.0 million.

Current wording

Net cash provided by investing activities was $138.6 million for the nine months ended September 30, 2025, primarily related to the proceeds from the maturities of marketable securities of $139.0 million and proceeds from the sale of property and equipment of $0.2 million, partially offset by the purchase of property and equipment of $0.5 million.

Previous wording

Net cash provided by financing activities was approximately $117.5 million for the six months ended June 30, 2026 attributable to proceeds received from public offering of common stock of $117.5 million.

Current wording

Net cash provided by financing activities was $117.1 million for the nine months ended September 30, 2026 attributable to proceeds received from the public offering of common stock of $116.9 million.