Edgewise Therapeutics (EWTX) Q4 2025 earnings summary

Executive summary

• Advanced late-stage clinical programs in muscular dystrophy and cardiovascular diseases, with multiple pivotal trial readouts expected in 2026 and 2027.

• Strong progress in Becker muscular dystrophy (GRAND CANYON), Duchenne (LYNX, FOX), and HCM (CIRRUS-HCM) programs.

• Entered 2026 with significant cash reserves and a robust pipeline targeting high unmet medical needs.

Financial highlights

• Cash, cash equivalents, and marketable securities totaled $530.1 million as of December 31, 2025.

• R&D expenses for Q4 2025 were $43.6 million, up from $37.5 million in Q3 2025, mainly due to increased personnel and clinical development costs.

• G&A expenses for Q4 2025 were $12.4 million, up from $9.4 million in Q3 2025, driven by higher personnel and professional fees.

• Net loss for Q4 2025 was $50.2 million ($0.47 per share), compared to $40.7 million ($0.39 per share) in Q3 2025.

Outlook and guidance

• Top-line data from the pivotal GRAND CANYON trial in Becker expected in Q4 2026, with NDA submission planned for H1 2027.

• CIRRUS-HCM 12-week Part D data for EDG-7500 in HCM expected in H1 2026; Phase 3 initiation planned for H2 2026.

• Phase 1 data for EDG-15400 and plans for heart failure studies expected in H1 2026; Phase 2 in HFpEF to start in H2 2026.