Edgewise Therapeutics (EWTX) Q3 2026 earnings summary

Executive summary

• Cardiovascular-focused clinical-stage pipeline following the July sale of the sevasemten muscular dystrophy program; Q3 net income primarily reflected the $1,348.1M sale gain.

• Positive EDG-7500 CIRRUS-HCM Part D results supported plans for a Phase 3 trial by year-end 2026; the first patient was dosed in the EDG-15400 Phase 2 EQUINOX-HFpEF trial.

Financial highlights

• Q3 operating expenses were $46.1M versus $46.9M YoY; R&D was $31.6M versus $37.5M, while G&A was $14.6M versus $9.4M.

• Q3 net income was $1,166.2M versus a $40.7M loss YoY, primarily reflecting the $1,348.1M sevasemten sale gain; income tax expense was $155.3M.

• 9M 2026 operating expenses were $162.2M versus $135.4M YoY; R&D was $121.8M versus $107.8M and G&A was $40.4M versus $27.6M.

• 9M net income was $1,059.8M versus a $117.6M loss YoY; basic/diluted EPS was $9.82/$8.86 versus $(1.15)/$(1.15).

• No product revenue had been generated; excluding the one-time sale gain, significant operating losses were expected to continue.

Outlook and guidance

• EDG-7500 Phase 3 trial in obstructive and nonobstructive HCM was planned to begin in Q4 2026.

• EDG-15400 Phase 2 EQUINOX-HFpEF is evaluating adults with symptomatic HFpEF and LVEF of at least 50%; the first patient was dosed.

• R&D expenses were expected to increase substantially as EDG-7500, EDG-15400 and EDG-003 programs advance; G&A was also expected to rise.

• Existing cash, cash equivalents and marketable securities of $1,743.9M were expected to fund planned operations and capital needs for at least 12 months from the report date.