Edgewise Therapeutics (EWTX) Q1 2026 earnings summary

Executive summary

• Focused on late-stage clinical development for severe muscle diseases, with lead candidates sevasemten (muscular dystrophies) and EDG-7500 (hypertrophic cardiomyopathy) in multiple Phase 2 trials, and positive long-term data for sevasemten in Becker muscular dystrophy showing sustained stabilization up to 3.5 years.

• Net loss increased to $49.0 million for Q1 2026 from $40.8 million in Q1 2025, reflecting higher R&D and G&A expenses.

• Cash, cash equivalents, and marketable securities totaled $499.6 million as of March 31, 2026, expected to fund operations for at least 12 months.

• Anticipates pivotal GRAND CANYON trial results for sevasemten in Becker in Q4 2026, with potential for first marketing application in H1 2027.

• CIRRUS-HCM 12-week data for EDG-7500 in hypertrophic cardiomyopathy expected in Q2 2026, with Phase 3 initiation planned for H2 2026.

Financial highlights

• Research and development expenses rose to $42.7 million in Q1 2026, up $5.9 million year-over-year, driven by later-stage clinical programs and increased headcount.

• General and administrative expenses increased to $11.5 million, up $2.3 million year-over-year, mainly due to personnel and professional costs.

• Interest income was $5.1 million, relatively flat year-over-year.

• Net loss per share was $(0.46), compared to $(0.43) in Q1 2025.

• Operating expenses for Q1 2026 were $54.1 million, up from $46.0 million in Q1 2025.

Outlook and guidance

• Existing cash resources are projected to fund planned operating and capital expenditures through at least the next 12 months.

• Anticipates continued increases in R&D and G&A expenses as clinical programs advance and organization scales for future commercialization.

• GRAND CANYON top-line data for sevasemten in Becker expected in Q4 2026; marketing application planned for H1 2027.

• CIRRUS-HCM 12-week Part D data for EDG-7500 in HCM due in Q2 2026; Phase 3 trial initiation in H2 2026.

• Phase 2 trial for EDG-15400 in heart failure with preserved ejection fraction (HFpEF) expected to start in H2 2026.