TRDA · Entrada Therapeutics, Inc.

Entrada Therapeutics' Q1 2026 results reflect ongoing investment in its DMD pipeline, with R&D expenses rising slightly to $33.1M from $32.1M year-over-year due to expanded DMD programs including ENTR-601-44, ENTR-601-45, ENTR-601-50, and ENTR-601-51. Collaboration revenue dropped sharply to $0.9M from $20.6M following substantial completion of VX-670 research activities with Vertex in Q1 2025, contributing to a net loss widening to $39.7M from $17.3M. G&A expenses held steady at ~$10M. Cash burn reduced position to $254.9M from $295.7M at year-end 2025, supporting operations into Q3 2027 without near-term dilution risk. The standout disclosure is positive topline from ELEVATE-44-201 Cohort 1: ENTR-601-44 at 6 mg/kg showed favorable safety (all AEs mild/moderate, no SAEs or discontinuations, normal kidney markers), 2.36% dystrophin increase from 4.00% baseline, 2.31% exon skipping increase, and statistically significant TTR velocity improvement (mean change 0.08 rise/sec vs placebo, p<0.05, exceeding 3.5x MCID). CEO Dipal Doshi highlighted this as a 'significant clinical inflection point' with differentiated functional benefits. Lower pediatric PK exposure vs adults, consistent with juvenile NHP data, informs Cohort 2 modeling for higher AUC, dystrophin, and function at 12 mg/kg, with dosing underway and data due year-end 2026 alongside Cohort 1 open-label. ELEVATE-45-201 Cohort 1 dosing initiated for exon 45 skipping, on track for mid-2026 readout. UK MHRA clearance for ENTR-601-50 and CTA-enabling studies complete for ENTR-601-51 position Entrada to expand its exon-skipping franchise targeting ~14,000 US/EU patients. Vertex's VX-670 DM1 study advances to H2 2026 data. Preclinical ocular progress includes ENTR-801 for USH2A and a second candidate nomination H2 2026. Investor call held May 7, 2026, at 8:30am ET.