Entrada Therapeutics (TRDA) Q2 2026 earnings summary

Executive summary

• Advanced multiple clinical programs for Duchenne muscular dystrophy (DMD), inherited retinal diseases, and metabolic disorders, with four DMD programs in clinical stages and a partnership with Vertex for DM1 progressing as planned.

• ELEVATE-44-201 Cohort 1 achieved primary safety and tolerability endpoints, with significant functional improvements; Cohort 2 topline results expected Q1 2027.

• Vertex collaboration on VX-670 for DM1 is advancing, with Phase 1/2 data expected in H2 2026.

• Expansion into ocular programs, including ENTR-801 for Usher syndrome type 2A.

Financial highlights

• Cash, cash equivalents, and marketable securities totaled $223.0 million as of June 30, 2026, down from $295.7 million at year-end 2025.

• Collaboration revenue was $0.9 million for Q2 2026, down from $2.0 million in Q2 2025.

• Research and development expenses were $35.4 million for Q2 2026, a decrease from $37.9 million year-over-year.

• General and administrative expenses were $10.5 million for Q2 2026, down from $10.9 million in Q2 2025.

• Net loss for Q2 2026 was $42.8 million, or $1.01 per share, compared to $43.1 million, or $1.04 per share, in Q2 2025.

Outlook and guidance

• Cash runway expected to last into Q3 2027 based on current operating plans.

• Additional ELEVATE-44-201 Cohort 1 open-label data expected by end of 2026; Cohort 2 topline results in Q1 2027.

• ELEVATE-45-201 Cohort 1 data expected in October 2026; Cohort 2 data in H1 2027.

• Vertex partnership on track to report results from the GALILEO Phase 1/2 trial for VX-670 in DM1 in H2 2026.

• Additional regulatory filings for ENTR-601-50 and ENTR-601-51 planned after review of ongoing study data.