EWTX · Edgewise Therapeutics, Inc.

Edgewise Therapeutics reported a Q1 2026 net loss of $49.0 million or $0.46 per share, widening from $40.8 million or $0.43 per share in Q1 2025, driven by elevated operating expenses of $54.1 million. R&D costs rose 16% to $42.7 million, primarily from ramped-up clinical activities for EDG-7500 in hypertrophic cardiomyopathy and EDG-15400 in heart failure, plus higher personnel expenses, partially offset by timing shifts in sevasemten programs like GRAND CANYON and MESA enrollment. G&A expenses increased 25% to $11.5 million due to expanded staffing, stock-based compensation, and professional fees to support pipeline advancement. Despite the loss expansion, the company maintains a robust $499.6 million cash position as of March 31, 2026, down from $530.1 million at year-end 2025, providing runway through key catalysts. CEO Kevin Koch highlighted breakthrough MESA open-label data showing sevasemten's sustained functional stabilization in Becker muscular dystrophy patients over 3.5 years, contrasting natural disease progression, with 99% enrollment from prior trials. CANYON study reinforced sevasemten's favorable cardiac safety over 12 months. Investors await high-stakes readouts: CIRRUS-HCM 12-week Part D data for EDG-7500 in oHCM and nHCM in Q2 2026 to inform Phase 3, and pivotal GRAND CANYON 18-month NSAA results in Q4 2026, potentially supporting a 2027 Becker marketing application as the first targeted therapy.