1Operating income declined to -$109.3M (-3.3% YoY), reflecting sustained investment in late-stage gene therapy programs requiring larger, longer clinical trials.
2Net income was -$100.0M (-1.7% YoY), showing a narrower loss due to improved operating efficiency despite ongoing R&D and administrative spending.
3Diluted EPS improved to $-1.86 from $-3.09, a 39.8% year-over-year change, indicating reduced per-share losses amid capital management efforts.
4Net cash used in operating activities increased to -$98.56M, signaling higher near-term funding demands from expanded research and corporate activities.
5Capital expenditures decreased to $397K from $481K, suggesting disciplined investment in infrastructure while prioritizing core development programs.
6Free cash flow was -$99.0M, consistent with expectations as the company advances its pipeline and scales operations in preparation for future clinical milestones.
7Management expects continued net losses and rising expenses as lead product candidates progress, with liquidity from Treasury securities sufficient to fund operations into 2028.