Edgewise Therapeutics, Inc. reported a net loss of $167.8 million for the year ended December 31, 2025, compared to a net loss of $133.8 million for the previous year. The company, focused on developing treatments for severe muscle diseases, has not generated any revenue to date and has financed its operations primarily through equity offerings. As of December 31, 2025, Edgewise held $530.1 million in cash, cash equivalents, and marketable securities.
The increase in net loss was primarily driven by a $24.4 million increase in research and development expenses, which totaled $151.4 million in 2025. This rise is attributed to the advancement of clinical programs, including a $0.8 million increase in sevasemten clinical program expenses, a $0.5 million increase in EDG-7500 clinical program expenses, and a $7.6 million increase in EDG-15400 clinical program expenses as it advanced into a Phase 1 trial. Internal costs, including personnel-related expenses, also contributed to the increase, rising by $16.7 million. These increases were partially offset by a $1.2 million decrease in discovery and preclinical expenses. General and administrative expenses also increased to $40.0 million, up from $31.9 million in the previous year, due to higher personnel-related and consulting costs.
Key operational developments included the continued progression of sevasemten, EDG-7500, and EDG-15400 through clinical trials. The company completed enrollment in the GRAND CANYON pivotal cohort for Becker muscular dystrophy and reported encouraging observations from the LYNX and FOX Phase 2 trials in Duchenne muscular dystrophy. The multipart Phase 2 CIRRUS-HCM trial of EDG-7500 also progressed, with the completion of Part A, Part B, Part C, and enrollment of Part D. Additionally, a Phase 1 trial of EDG-15400 in healthy adults was initiated.
Looking ahead, Edgewise Therapeutics anticipates that its existing cash resources will be sufficient to fund its operating expenses and capital expenditure requirements for at least the next 12 months. The company expects research and development expenses to increase as it continues to advance its clinical programs and explore new product candidates. The company also plans to evaluate strategic collaborations and asset acquisition opportunities to expand its pipeline and accelerate development timelines.
About Edgewise Therapeutics, Inc.
Edgewise Therapeutics is a biopharmaceutical company focused on discovering and developing small molecule therapies for severe muscle diseases, including muscular dystrophies and cardiac disorders. Its core programs target muscle damage and dysfunction through proprietary precision medicine platforms, with lead candidates like sevasemten and EDG-7500 designed to protect muscle fibers and improve function. The company aims to address unmet needs in rare neuromuscular and cardiovascular conditions worldwide.
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