Entrada Therapeutics, Inc. reported a collaboration revenue of $25.4 million for the year ended December 31, 2025, a significant decrease from the $210.8 million reported for the year ended December 31, 2024. This decline is primarily attributed to fewer costs incurred for VX-670, as the company substantially completed its research plan activities for this candidate during the first quarter of 2025. The company's net loss for 2025 was $143.8 million, compared to a net income of $65.6 million in 2024, reflecting the impact of reduced collaboration revenue and increased operating expenses. Basic and diluted net loss per share for 2025 was $3.47, while basic and diluted net income per share for 2024 was $1.76 and $1.68, respectively.
Operating expenses for Entrada Therapeutics totaled $183.3 million in 2025, an increase from $163.8 million in 2024. Research and development expenses rose to $142.3 million, driven by advancements in Duchenne muscular dystrophy (DMD) programs, including ENTR-601-44, ENTR-601-45, and ENTR-601-51, partially offset by reduced costs related to the Vertex collaboration. General and administrative expenses also increased to $41.1 million, primarily due to higher professional service fees and personnel-related costs. Interest and other income decreased to $15.1 million in 2025, reflecting changes in interest earned from debt securities and money market funds, as well as a decrease in the amount of marketable securities held.
Operationally, Entrada Therapeutics continued to advance its clinical programs, with expectations to progress clinical trials for ENTR-601-44 and ENTR-601-45, submit regulatory filings for ENTR-601-50 in the EU, and initiate regulatory submissions for ENTR-601-51 in 2026. The company also anticipates completing dosing in the VX-670 trial in mid-2026 and reporting data from multiple cohorts in its ENTR-601-44 and ENTR-601-45 programs. In April 2025, the company implemented a strategic plan that included a 20% workforce reduction, resulting in $1.9 million in charges related to severance and termination benefits.
As of February 19, 2026, Entrada Therapeutics had 152 full-time employees, with a significant portion dedicated to research and development. The company's intellectual property portfolio included 81 distinct patent families, with 266 pending applications and 88 granted patents across various jurisdictions. The company's financial position included cash, cash equivalents, and marketable securities totaling $295.7 million as of December 31, 2025, which is projected to fund operations into the third quarter of 2027.
Looking ahead, Entrada Therapeutics anticipates that research and development expenses will increase as it progresses its clinical trials and preclinical development activities. The company's strategy includes rapidly advancing therapeutic candidates into clinical development for neuromuscular diseases, leveraging its genetic medicine and protein design capabilities to expand its development portfolio, and selectively evaluating strategic partnerships to maximize the therapeutic potential of its platform and programs. The company's website and LinkedIn profile may be used to distribute material information, and investors are encouraged to review the Investors Relations section of the website for additional information.
About Entrada Therapeutics, Inc.
Entrada Therapeutics, Inc. is a biopharmaceutical company focused on developing intracellular therapeutics using its proprietary Endosomal Escape Vehicle (EEV) platform. The company advances treatments for rare neuromuscular diseases, genetic disorders, and ocular conditions by enabling targeted delivery of nucleic acids, proteins, and other molecules into cells. Its portfolio includes clinical-stage candidates for Duchenne muscular dystrophy, myotonic dystrophy, and other diseases, leveraging innovative delivery technologies to address unmet medical needs.
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