DivestmentAug 6, 2026, 08:13 AM
Edgewise Therapeutics Completes Sevasemten Sale for $1.55B Upfront
AI Summary
Edgewise Therapeutics completed the sale of its Sevasemten muscular dystrophy program to Servier on July 10, 2026, receiving $1.55 billion in upfront cash. The company is also eligible for up to an additional $1.1 billion in future milestone payments. This divestment allows Edgewise to focus on its cardiovascular pipeline. For the six months ended June 30, 2026, the company reported a net loss of $106.34 million, with cash, cash equivalents, and marketable securities totaling $460.7 million prior to the sale proceeds.
Key Highlights
- Sevasemten muscular dystrophy program sold for $1.55 billion upfront cash.
- Eligible for up to $1.1 billion in future milestone payments from the Sevasemten Sale.
- Net loss for six months ended June 30, 2026, was $106.34 million.
- Research and development expenses increased to $90.20 million for six months ended June 30, 2026.
- Cash, cash equivalents, and marketable securities totaled $460.7 million as of June 30, 2026.
- Total liabilities were $31.61 million as of June 30, 2026.
- Accumulated deficit reached $652.71 million as of June 30, 2026.
Price Impact
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