EDITAS MEDICINE, INC. Conférer de la administration et autopsier la conclusion banquière et les résultats des exercices. (sérieux 10-x)

The following marchandage and analysis of our financial préliminaire and results of
operations should be read together with our condensed consolidated financial
statements and related observations appearing elsewhere in this Quarterly Différé on
Form 10-Q and our Annual Différé on Form 10-K for the year ended December 31,
2021, which was filed with the Securities and Exchange Garantie ("SEC") on
February 24, 2022 (the "Annual Différé").

This Quarterly Différé on Form 10-Q contains forward-looking statements that
involve substantial risks and uncertainties. The words "anticipate," "believe,"
"estimate," "expect," "intend," "may," "balance," "predict," "project," "would" and
similar expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these identifying words. All
statements addressing our future operating succès and clinical development
and regulatory timelines that we expect or anticipate will occur in the future,
as well as expectations for cash runway, are forward-looking statements. There
are a number of arrogant risks and uncertainties that could agent our actual
results to differ materially from those indicated by forward-looking statements,
including uncertainties inherent in the alphabétisation and completion of
pre-clinical studies and clinical trials and clinical development of our product
candidates; availability and programme of results from pre-clinical studies and
clinical trials; whether interim results from a clinical moto will be
predictive of the dernier results of the moto or the results of future trials;
expectations for regulatory approvals to conduct trials or to market products
and availability of funding sufficient for our foreseeable and unforeseeable
operating expenses and empressé expenditure requirements. These and other risks
are described in greater detail in the Annual Différé under the captions "Risk
Factor Summary" and Action I, "Élément 1A. Risk Factors," as updated by our
subsequent filings with the SEC. We may not actually achieve the degrés,
intentions or expectations disclosed in our forward-looking statements, and you
should not affecté undue reliance on our forward-looking statements. Actual
results or events could differ materially from the degrés, intentions and
expectations disclosed in the forward-looking statements we make. Our
forward-looking statements do not reflect the potential impulsion of any future
acquisitions, mergers, entente, contigu ventures or investments that we may
make.

You should read this Quarterly Différé on Form 10-Q and the revues that we
have filed as exhibits to this Quarterly Différé on Form 10-Q completely and with
the understanding that our actual future results may be materially different
from what we expect. The forward-looking statements contained in this Quarterly
Différé on Form 10-Q are made as of the période of this Quarterly Différé on Form
10-Q, and we do not assume any engagement to update any forward-looking
statements, whether as a result of new nouvelle, future events or otherwise,
except as required by convenable law.

Transitoire


We are a clinical apprentissage genome editing company dedicated to developing
potentially transformative genomic medicines to treat a broad range of serious
diseases. We have developed a proprietary gene editing platform based on CRISPR
technology and we continue to expand its capabilities. Our product development
strategy is to target diseases of high unmet need where we aim to make
differentiated, transformational medicines using our gene editing platform. We
are advancing in vivo gene editing medicines, in which the medicine is injected
or infused into the éprouvé to edit the cells inside their justaucorps, ex vivo gene
edited cell medicines, in which cells collected from a éprouvé are edited with
our technology and then administered back to that same éprouvé, and cellular
therapy medicines, in which we use our technology to edit induced human
pluripotent stem cells that are subsequently differentiated into effector cells,
such as natural killer ("NK") cells, to develop medicines that can be
administered to a éprouvé. While our discovery efforts have ranged across
several diseases and therapeutic areas, the areas where our programs are more
avancé are in our in vivo gene editing medicines to treat ocular diseases,
our ex vivo gene edited cell medicines to treat hemoglobinopathies, and our
cellular therapy medicines to treat enflure.

In ocular diseases, our most advanced program is designed to address a specific
genetic form of retinal degeneration called Leber congenital amaurosis 10
("LCA10"), a CEP290-related retinal degenerative disorder for which we are not
aware of any available therapies. In mid-2019, we initiated our Période 1/2
BRILLIANCE clinical moto of EDIT-101, an experimental gene editing medicine to
treat LCA10. The BRILLIANCE moto is designed to assess the safety,
tolerability, and efficacy of EDIT-101 in up to five cohorts of patients. We
completed dosing of the first of the

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commun

Trio centres d’adultes originellement prévus, à chancelant, norme et grossière modération en 2021, et principalement tôt cette cycle, il a engagé à déterminer des doses afin les bébés à modération norme.


In the third quarter of 2021, we released preliminary clinical data from the
first six patients with LCA10 treated with EDIT-101 demonstrating a aimable
safety profile and encouraging signals of clinical benefit. For additional
nouvelle regarding these clinical data, please see Action I, "Élément 1.
Bizness-Our Gene Editing Medicine Programs-In Vivo Gene Editing Medicines -
Ocular-Leber Congenital Amaurosis 10" in the Annual Différé. We remain on track
to provide an update on the Période 1/2 BRILLIANCE clinical moto in November
2022, including safety data on all dosed adult and pediatric patients and
efficacy data on the adult mid- and high-dose cohorts.

For our ex vivo gene-edited cell medicines, our lead program is EDIT-301, an
experimental medicine to treat sickle cell disease, a severe inherited sang
disease that causes premature death, and transfusion-dependent beta-thalassemia
("TDT"), the most severe form of beta-thalassemia, another inherited sang
disorder characterized by severe anemia. In January 2021, the U.S. Food and Drug
Économat (the "FDA") cleared the start of enrollment and dosing of
patients in the first période of our Période 1/2 clinical moto of EDIT-301, which
we refer to as our RUBY moto, for the treatment of severe sickle cell disease.
This study is designed to validate the safety and beneficial effects of the cell
editing process. We recently dosed the joint éprouvé in the RUBY moto and
continue to enroll study participants. We remain on track to present originel
preliminary clinical data for the RUBY moto by the end of 2022, which will
include efficacy data from the first treated éprouvé, as well as safety data
from the first two treated patients. In July 2022, the FDA removed the
previously disclosed arbitraire clinical hold on the RUBY moto, enabling us to
include efficacy data from patients in a mercatique concentration for EDIT-301 in
the future. In December 2021, the FDA cleared our Investigational New Drug
("IND") concentration for a Période 1/2 clinical moto of EDIT-301 for the treatment
of TDT. This moto, referred to as our EDITHAL moto, is designed to assess the
safety, tolerability, and preliminary efficacy of EDIT-301 for the treatment of
TDT. We have completed editing CD34+ hematopoietic stem cells for the first
enrolled éprouvé and are scheduling dosing.

In cellular therapy medicines, we continue to develop our capabilities to
generate cells from induced human pluripotent stem cells to develop engineered
cell medicines to treat enflure. We have advanced development of engineered
iPSC-derived NK ("iNK") cell medicines for solid tumors and generated edited NK
cells from iPSCs with significantly increased anti-cancer activity. In December
2021, we declared a development candidate, referred to as EDIT-202, a highly
differentiated iNK investigational medicine currently in preclinical development
with copie knock-in and copie évanoui gene edits that are intended to
enhance adaptive immune response and improve cell proliferation, cytolytic
activity and persistence, as well as overcome suppressive tumor
microenvironments. We are advancing EDIT-202 towards IND-enabling studies. We
are also advancing alpha-beta T cell experimental medicines in aide
with Carton-Myers Squibb Company ("BMS"). In May 2015, we entered into a
aide with Juno Therapeutics, Inc., a wholly-owned subsidiary of BMS
("Juno Therapeutics"), to develop novel engineered alpha-beta T cell therapies
for enflure and autoimmune diseases, which was amended and restated in each of
May 2018 and November 2019, at which time we also entered into a related license
agreement with Juno Therapeutics, which we collectively refer to as our
aide with BMS.

Since our inception in September 2013, our operations have focused on organizing
and staffing our company, commerce agenda, raising empressé, establishing our
intellectual property boîte, assembling our core capabilities in gene
editing, seeking to identify potential product candidates, and undertaking
preclinical studies. Except for EDIT-101 and EDIT-301, all of our research
programs are still in the preclinical or research apprentissage of development and the
risk of failure of all of our research programs is high. We have not generated
any revenue from product sales. We have primarily financed our operations
through various equity financings and payments received under our research
aide with BMS and our constituer strategic entente with Allergan
Pharmaceuticals Universel Limited (together with its affiliates,
"Allergan"), which was terminated in August 2020.

Since inception, we have incurred significant operating losses. Our net losses
were $159.7 million and $151.1 million for the nine months ended September 30,
2022 and 2021, respectively. As of September 30, 2022, we had an accumulated
deficit of $1.0 billion. We expect to continue to incur significant expenses and
operating losses for the foreseeable future. Our net losses may fluctuate
significantly from quarter to quarter and from year to year. We anticipate that
our expenses will increase substantially as we continue our current research
programs and our preclinical

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development activities; progress our clinical trials; seek to identify
additional research programs and additional product candidates; initiate
preclinical testing and clinical trials for other product candidates we identify
and develop; maintain, expand, and protect our intellectual property boîte,
including reimbursing our licensors for such expenses related to the
intellectual property that we in-license from such licensors; hire additional
clinical, quality control, and scientific insensible; and incur additional costs
associated with operating as a évident company. We do not expect to be formateur
for the year ending December 31, 2022 or the foreseeable future.

Although we did not experience any significant impulsion on our financial
préliminaire, results of operations or liquidity due to the ongoing COVID-19
pandemic during the nine months ended September 30, 2022, the pandemic has
continuously evolved with new, more contagious, variants emerging from time to
time, and near-term risks to our commerce remain. In response to COVID-19 and
these variants, governments have implemented a variety of responses, including
government-imposed quarantines, travel ascétisme and other évident health
safety measures. We have taken steps in line with guidance from the U.S. Centers
for Disease Control and Prevention and the Commonwealth of Massachusetts and the
State of Colorado, the jurisdictions in which we primarily operate our commerce,
to protect the health and safety of our employees and the community. After
previously implementing a work from logement policy and restricting on-site
activities at our facilities in Massachusetts and Colorado, we fully reopened
these facilities in the third quarter of 2021 using a hybrid work model. We have
when needed reimposed the work from logement policy and on-site activity
ascétisme in response to pièce increases in COVID-19 cases, and may do so
again in the future as appropriate. We will continue to monitor and respond to
the changing données created by the pandemic, with foyer on prioritizing the
health and safety of our employees and maintaining safe and reliable operations
of our facilities.

Abrégé des exercices financières

il a gagné

To période, we have not generated any revenue from product sales and we do not
expect to generate any revenue from product sales for the foreseeable future. In
connection with our aide with BMS, we have received an aggregate of
$128.5 million in payments, which have primarily consisted of the originel
upfront and amendment payments, development milestone payments, research funding
soutènement and audible opt-in fees. We no côtoyer receive research funding soutènement
from BMS. As of September 30, 2022, we recorded $56.7 million of deferred
revenue in comparaison to our aide with BMS, all of which is classified as
long-term on our condensed consolidated bilan sheet. Under this aide,
we will recognize revenue upon delivery of assortiment packages to BMS or upon
receipt of development milestone payments. We expect that our revenue will
fluctuate from quarter-to-quarter and year-to-year as a result of the programme of
when we deliver such assortiment packages or receive such milestone payments.

For additional nouvelle emboîture our revenue recognition policy related to the
BMS aide, see Action II, "Élément 7. Conduite's Contestation and Analysis of
Financial Primitif and Results of Operations-Critical Accounting Policies and
Estimates-Revenue Recognition" included in the Annual Différé.

Entre un rejetons possible, nous-mêmes prévoyons que entiers nos revenus proviendront en éternelle concurrence de à nous participation en tenant BMS et d’contraires formes de participation ou d’accords que nous-mêmes concluons.

dépenses

Dépenses de percussion et aggravation


Research and development expenses consist primarily of costs incurred for our
research, preclinical development, process and scale-up development, laboratoire
and clinical development of our product candidates, and development activities
under our aide agreements. These costs are expensed as incurred and
include:

? Dépenses liées aux travailleurs, y imprégné les salaires, les avantages sociaux et les études

Évaluation de la courtage

? Coûts liés aux accords d’essais hôpitaux en tenant les sites d’perquisition ;


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Coûts associés à la accomplissement et à la habit à l’barème de nos procédures précliniques

? Activités de aggravation, de exécution, hôpitaux et conformes, y imprégné les gain

Rémunérés aux consultants professionnels, prestataires de cénozoïque et fournisseurs externes ;

Coûts d’obtention de fournitures de hangar et d’équipements non obligatoires utilisés là-dedans à nous pays

? Activités précliniques et là-dedans la exécution d’tâches précliniques et hôpitaux

Matériaux;

? Les coûts des activités de percussion et aggravation là-dedans le châssis de à nous participation

les accords.

? Coûts des cénozoïque publics, y imprégné les commission de redevance, d’paiement et d’rafistolage ; Et le

Charge d’acquisition et de style de licences inférieurement une immoralité de étranger

? Les accords, y imprégné les sous-licences ou les paiements réussis effectués à

licenciés.

At this time, we cannot reasonably estimate or know the essence, programme, and
estimated costs of the efforts that will be necessary to complete the
development of any product candidates we may identify and develop. This is due
to the numerous risks and uncertainties associated with developing such product
candidates, including the uncertainty of:

? Triomphe d’tâches précliniques, d’tâches IND et naturelles

Labeurs d’légende

? Tableau passage et exécution des essais hôpitaux ;

? empocher les autorisations de habit sur le marché des autorités conformes compétentes ;

? Limiter ou engloutir des entente en tenant des droits de exécution commerciale

Fabricants étranger

? Achat et style de brevets et rempart des secrets commerciaux et des non-brevets

monopole.

? Sortie vendeur d’un article, s’il est plaisanté, esseulé ou

en participation en tenant d’contraires;

? Agrément du article, si approuvée par les patients,

la congrégation et les étranger payeurs ;

? escrimer avantageusement en tenant d’contraires traitements et options de salaire ;

? Allure de quiétude satisfaisant inaltérable puis adhésion ;

? Empressement et justification de la fonds morale et des loyaux de fonds et

réclamations. Et le

? Aborder les propriétés médicinales souhaitées des indications visées.


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A réformé in the outcome of any of these variables with confession to the
development of any product candidates we develop would significantly réformé the
costs, programme, and viability associated with the development of that product
candidate.

Research and development activities are orthogonal to our commerce model. We expect
research and development costs to increase significantly for the foreseeable
future as our development programs progress, including as we continue to
progress our clinical trials as well as soutènement preclinical studies for our
other research programs.

Dépenses générales et administratives

General and administrative expenses consist primarily of salaries and other
related costs, including stock-based revanche for insensible in executive,
payé, investor procès-verbaux, commerce development, legal, corporate affairs,
nouvelle technology, facilities and human resource functions. Other
significant costs include corporate facility costs not otherwise included in
research and development expenses, legal fees related to intellectual property
and corporate matters, and fees for accounting and consulting cénozoïque.

We anticipate that our general and administrative expenses will increase in the
future to soutènement continued research and development activities and potential
commercialization of any product candidates we identify and develop. These
increases will include increased costs related to the hiring of additional
insensible and fees to outside consultants. We also anticipate increased expenses
related to reimbursement of third-party patent-related expenses and expenses
associated with operating as a évident company, including costs for contrôle, legal,
regulatory, and tax-related cénozoïque, director and officer insurance premiums,
and investor procès-verbaux costs. With confession to reimbursement of third-party
intellectual property-related expenses specifically, given the ongoing essence of
the haine and interference proceedings involving the patents licensed to us
under our license agreement with The Broad Institute, Inc. and the President and
Fellows of Harvard College, we anticipate general and administrative expenses
will continue to be significant.

Discordantes revenus, nets

Dans les avant-gardiste mensualité terminés 30 septembre 2022les contraires revenus nets se composent spécialement des revenus d’intérêts et de l’agrégat des escomptes associés aux titres négociés.

Dans les avant-gardiste mensualité terminés 30 septembre 2021les contraires revenus nets sont spécialement constitués de revenus d’intérêts, relativement compensés par l’agrégat des escomptes associés aux titres négociés.

PRINCIPALES MÉTHODES ET ESTIMATIONS COMPTABLES


Our direction's marchandage and analysis of our financial préliminaire and results
of operations is based on our condensed consolidated financial statements, which
have been prepared in accordance with United States generally accepted
accounting principles. The preparation of our condensed consolidated financial
statements requires us to make judgments and estimates that affect the reported
amounts of assets, liabilities, revenues, and expenses, and the disclosure of
problématique assets and liabilities in our condensed consolidated financial
statements. We armature our estimates on historical experience, known trends and
events, and various other factors that we believe to be reasonable under the
circumstances. Actual results may differ from these estimates under different
assumptions or données. On an ongoing basis, we evaluate our judgments and
estimates in allégé of changes in circumstances, facts, and experience. The
effects of material revisions in estimates, if any, will be reflected in the
condensed consolidated financial statements prospectively from the période of
réformé in estimates.

There have been no material changes to our critical accounting policies from
those described in Action II, "Élément 7. Conduite's Contestation and Analysis of
Financial Primitif and Results of Operations-Critical Accounting Policies and
Estimates" in the Annual Différé.

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Results of Operations

Similitude des triade mensualité closeau 30 septembre 2022 et 2021


The following piédestal summarizes our results of operations for the three months
ended September 30, 2022 and 2021, together with the changes in those items in
dollars (in thousands) and the respective percentages of réformé:

                                               Three Months Ended
                                                 September 30,
                                               2022          2021        Dollar Établissement      Percentage Établissement
Coentreprise and other research and
development revenues                        $       42    $    6,197    $       (6,155)              (99)  %
Operating expenses:
Research and development                        41,326        29,265             12,061                41  %
General and administrative                      16,236        16,185                 51               n/m
Entier operating expenses                        57,562        45,450       
     12,112                27  %
Other income, net:
Other income, net                                    1            19               (18)              (95)  %
Interest income, net                             1,793           152              1,641               n/m
Entier other income, net                          1,794           171       
      1,623               n/m
Net loss                                    $ (55,726)    $ (39,082)    $      (16,644)                43  %


For our results of operations, we have included the respective percentage of
changes, unless greater than 100% or less than (100)%, in which case we have
denoted such changes as not meaningful (n/m).

Coentreprise et contraires revenus de R&D

Coentreprise and other research and development revenues decreased by $6.1
million, to $42 thousand for the three months ended September 30, 2022, compared
to $6.2 million for three months ended September 30, 2021. This decrease was
primarily attributable to BMS's exercise in the third quarter of 2021 of its
assortiment for an additional program under our aide with BMS, for which
there was no corresponding revenue in the third quarter of 2022.

Dépenses de percussion et aggravation


Research and development expenses increased by $12.1 million, to $41.3 million
for the three months ended September 30, 2022, compared to $29.2 million for the
three months ended September 30, 2021. The following piédestal summarizes our
research and development expenses for the three months ended September 30, 2022
and 2021, together with the changes in those items in dollars (in thousands) and
the respective percentages of réformé:

                                         Three Months Ended
                                           September 30,
                                         2022           2021        Dollar Établissement     Percentage Établissement
External research and development
expenses                              $    17,449    $   10,777    $         6,672               62  %
Employee related expenses                  11,768        10,177              1,591               16  %
Facility expenses                           5,414         4,085              1,329               33  %
Produit-based revanche expenses           3,045         4,552           
(1,507)             (33)  %
Other expenses                              2,612       (1,371)              3,983              n/m
Sublicense and license fees                 1,038         1,045                (7)              (1)  %
Entier research and development
expenses                              $    41,326    $   29,265    $        12,061               41  %


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The increase in research and development expenses for the three months ended
September 30, 2022 compared to the three months ended September 30, 2021 was
primarily attributable to:

Quasiment 6,7 millions de dollars En emprise la percussion et le aggravation externes

? Dépenses spécialement liées au aggravation infirmerie et faiseur de

EDIT-301, EDIT-101 et nos contraires programmes ;

Quasiment 4,0 millions de dollars Entre l’précipitation des contraires offices spécialement liée à une

? Le agio d’racket COVID-19 afin le style en courrier des travailleurs avéré au autre trimestre de 2021

l’précipitation des commission de suffrage ;

Quasiment 1,6 million de dollars Entre l’précipitation des offices sociales dues en élémentaire pièce

? Pousser la élagage de à nous patent, y imprégné le dépense amiral des cénozoïque curatifs

formé et amplifier à nous entente R&D ; Et le

? Quasiment 1,3 million de dollars Entre l’précipitation des dépenses liées aux installations en élémentaire pièce

liés à l’précipitation de l’amplitude de hangar et de exécution.

Ces augmentations ont été en concurrence compensées par 1,5 million de dollars En déclin de la agio de courtage à armature d’études, spécialement en intelligence d’attributions ponctuelles d’études accordées en 2021, qui n’ont pas été attribuées de primes comparables en 2022.

Dépenses générales et administratives

General and administrative expenses remained flat at $16.2 million for the three
months ended September 30, 2022, and 2021. The following piédestal summarizes our
general and administrative expenses for the three months ended September 30,
2022 and 2021, together with the changes in those items in dollars (in
thousands) and the respective percentages of réformé:

                                       Three Months Ended
                                         September 30,
                                       2022           2021         Dollar Établissement     Percentage Établissement
Employee related expenses          $      4,709    $     4,163    $           546               13  %
Intellectual property and
constaté related fees                       3,630          3,378                252                7  %
Produit-based revanche
expenses                                  2,836          5,460            (2,624)             (48)  %
Facility and other expenses               2,548          1,641                907               55  %
Professional besogne expenses             2,513          1,543             
  970               63  %
Entier general and
administrative expenses            $     16,236    $    16,185    $            51              n/m


The increase in general and administrative expenses for the three months ended
September 30, 2022 compared to the three months ended September 30, 2021 was
primarily attributable to:

 ? approximately $1.0 million in increased professional besogne expenses;

? Quasiment 0,9 million de dollars là-dedans l’précipitation des installations et contraires dépenses ;

? Quasiment 0,5 million de dollars là-dedans l’précipitation des dépenses liées aux travailleurs ; Et le

? Quasiment 0,2 million de dollars Allonger la fonds morale et les brevets

commission afférents.



These increases were partially typographie by approximately $2.6 million in decreased
stock-based revanche expense primarily related to succès awards granted
in 2021 to our constituer Chief Executive Officer that were achieved or deemed
contingent in the third quarter of 2021, for which there was no similar expense in
the third quarter of 2022.

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Other income, net

Dans les triade mensualité se terminant 30 septembre 2022contraires revenus, net trouvait 1,8 million de dollarsspécialement incriminable aux revenus d’intérêts et à l’agrégat des escomptes associés aux titres négociables.

Dans les triade mensualité se terminant 30 septembre 2021contraires revenus, net trouvait 0,2 million de dollarsspécialement incriminable aux revenus d’intérêts relativement compensés par l’agrégat des escomptes associés aux titres négociables.

Similitude des avant-gardiste mensualité closeau 30 septembre 2022 et 2021


The following piédestal summarizes our results of operations for the nine months
ended September 30, 2022 and 2021, together with the changes in those items in
dollars (in thousands) and the respective percentages of réformé:

                                               Nine Months Ended
                                                 September 30,
                                              2022           2021         Dollar Établissement      Percentage Établissement
Coentreprise and other research and
development revenues                       $    13,176    $    13,075    $           101                 1  %
Operating expenses:
Research and development                       122,960        104,954             18,006                17  %
General and administrative                      52,720         59,657      
     (6,937)              (12)  %
Entier operating expenses                       175,680        164,611             11,069                 7  %
Other income, net
Other income, net                                    4             38               (34)              (89)  %
Interest income, net                             2,806            432              2,374               n/m
Entier other income, net                          2,810            470              2,340               n/m
Net loss                                   $ (159,694)    $ (151,066)    $       (8,628)                 6  %

Coentreprise et contraires revenus de R&D

Coentreprise and other research and development revenues increased by $0.1
million, to $13.2 million, for the nine months ended September 30, 2022 from
$13.1 million for nine months ended September 30, 2021. This increase was
primarily attributable to a milestone payment received under one of our license
agreements in the nine months ended September 30, 2022.

Dépenses de percussion et aggravation


Research and development expenses increased by $18.0 million, to $123.0 million,
for the nine months ended September 30, 2022 from $105.0 million for the nine
months ended September 30, 2021. The following piédestal summarizes our research and
development expenses for the nine months ended September 30, 2022 and 2021,
together with the changes in those items in dollars (in thousands) and the
respective percentages of réformé:

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                                        Nine Months Ended
                                          September 30,
                                        2022          2021        Dollar Établissement     Percentage Établissement
External research and development
expenses                             $   52,073    $   38,290    $        13,783               36  %
Employee related expenses                35,502        29,926              5,576               19  %
Facility expenses                        14,476        12,042              2,434               20  %
Produit-based revanche expenses         9,803        12,689            (2,886)             (23)  %
Other expenses                            6,580         1,334              5,246              n/m
Sublicense and license fees               4,526        10,673            (6,147)             (58)  %
Entier research and development
expenses                             $  122,960    $  104,954    $        18,006               17  %


L’précipitation des dépenses de percussion et aggravation afin les avant-gardiste mensualité a approprié fin
30 septembre 2022 Relativement aux avant-gardiste derniers mensualité 30 septembre 2021 Il a été avancé spécialement à :

Quasiment 13,8 millions de dollars En emprise la percussion et le aggravation externes

? Dépenses spécialement attribuables au aggravation infirmerie et fabricant

De EDIT-301, EDIT-101 et nos contraires programmes ;

Quasiment 5,6 millions de dollars Entre l’précipitation des offices sociales dues en élémentaire pièce

? Pousser la élagage de à nous patent, y imprégné le dépense amiral des cénozoïque curatifs

formé et amplifier à nous entente R&D ;

Quasiment 5,2 millions de dollars Entre l’précipitation des contraires offices spécialement liée à une

? Le agio d’racket COVID-19 afin le style en courrier des travailleurs avéré au autre trimestre de 2021

l’précipitation des commission de suffrage ; Et le

? Quasiment 2,4 millions de dollars Entre l’précipitation des dépenses liées aux installations en élémentaire pièce

liés à l’précipitation de l’amplitude de hangar et de exécution.

Ces augmentations ont été relativement compensées par :

Quasiment 6,1 millions de dollars Entre les faibles commission de sous-licence et les commission de immoralité en élémentaire pièce

? Liés au déclenchement de Success Payments inférieurement certaines de nos licences

Accords sur l’claque d’étapes basées sur la certificat commerçante

Le élémentaire trimestre de 2021 qui n’avait pas de commission comparables en 2022 ; Et le

Quasiment 2,9 millions de dollars Entre de faibles dépenses de courtage basées sur les stocks

? Encore en intelligence des attributions ponctuelles d’études attribuées en 2021, qui subsistaient

Il n’y a pas de récompenses comparables en 2022.

Dépenses générales et administratives


General and administrative expenses decreased by $6.9 million, to $52.7 million,
for the nine months ended September 30, 2022 from $59.7 million for the nine
months ended September 30, 2021. The following piédestal summarizes our general and
administrative expenses for the nine months ended September 30, 2022 and 2021,
together with the changes in those items in dollars (in thousands) and the
respective percentages of réformé:

                                       Nine Months Ended
                                        September 30,
                                      2022           2021         Dollar Établissement     Percentage Établissement
Produit-based revanche
expenses                          $     14,127    $    23,053    $       (8,926)             (39)  %
Employee related expenses               13,067         13,228              (161)              (1)  %
Intellectual property and
constaté related fees                     10,535         13,247            (2,712)             (20)  %
Facility and other expenses              7,916          5,894              2,022               34  %
Professional besogne expenses            7,075          4,235              2,840               67  %
Entier general and
administrative expenses           $     52,720    $    59,657    $       (6,937)             (12)  %


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Abaissement des commission vagues et administratifs afin les avant-gardiste mensualité closeau
30 septembre 2022 Relativement aux avant-gardiste derniers mensualité 30 septembre 2021 Il a été avancé spécialement à :

Quasiment 8,9 millions de dollars Entre de faibles dépenses de courtage basées sur les stocks

liés à l’brusquerie de l’allocation de certaines de nos études

Ex-PDG à propos de son évincement de

? procès là-dedans Février 2021de la sorte que le sentiment de la courtage en études

Assuré afin les récompenses basées sur la succès qui ont été attribuées à

Le humain PDG et les contraires travailleurs nommés en 2021, remplaçant lesquelles un

Un convention de succès abouti et exactement avéré en 2021, afin

afin lesquelles aucune dissipation approprié n’a été comptabilisée en 2022 ;

Quasiment 2,7 millions de dollars En déclin de la fonds morale et des brevets

? Charge connexes spécialement attribuables à la déclin des commission réglementaires liés à

adroit et ménager nos brevets ; Et le

? Quasiment 0,2 million de dollars En déclin des dépenses liées au insensible.

Ces baisses ont été relativement compensées par :

? Quasiment 2,8 millions de dollars à accroître les dépenses permanencier spécialiste; Et le

? Quasiment 2,0 millions de dollars Entre l’précipitation des installations et contraires dépenses.

Discordantes revenus, nets

Dans les avant-gardiste mensualité terminés 30 septembre 2022contraires revenus, net trouvait 2,8 millions de dollarsspécialement incriminable aux revenus d’intérêts et à l’agrégat des escomptes associés aux titres négociables.

Dans les avant-gardiste mensualité terminés 30 septembre 2021contraires revenus, net trouvait 0,5 million de dollarsspécialement incriminable aux revenus d’intérêts relativement compensés par l’agrégat des escomptes associés aux titres négociables.

Disponibilité et finances en empressé

Pluies de argent

As of September 30, 2022, we have raised an aggregate of $898.0 million in net
proceeds through the érotique of shares of our common arrière-boutique in évident offerings and
at-the-market offerings. We also have funded our commerce from payments received
under our research aide with BMS and our strategic entente with
Allergan, which was terminated in August 2020. As of September 30, 2022, we had
cash, cash equivalents and marketable securities of $478.5 million.

In May 2021, we entered into a common arrière-boutique sales agreement with Cowen and
Company, LLC ("Cowen"), under which we from time to time can bout and sell
shares of our common arrière-boutique through Cowen in at-the-market offerings for
aggregate gross érotique proceeds of up to $300.0 million (the "ATM Facility"). As
of September 30, 2022, we have not sold any shares of our common arrière-boutique under the
ATM Facility.

In post-scriptum to our existing cash, cash equivalents and marketable securities, we
are eligible to earn milestone and other payments under our aide
agreement with BMS. Our ability to earn the milestone payments and the programme of
earning these amounts are dependent upon the programme and outcome of our
development, regulatory and vendeur activities and, as such, are uncertain at
this time. As of September 30, 2022, our right to problématique payments under our
aide agreement with BMS is our only significant committed potential
external prélude of funds.

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Cash Flows

Le étiquette talonnant impute des informations sur nos dégoulinade de disponibilité afin les avant-gardiste mensualité terminés 30 septembre 2022 et 2021 (en milliers):

                                                                Nine Months Ended
                                                                  September 30,
                                                                2022         2021
Net cash (used in) provided by:
Operating activities                                         $ (135,076)  $ (129,221)
Investing activities                                             141,596     (31,626)
Financing activities                                                 665      281,049

Intensité droite de la disponibilité et des comparables de disponibilité et de la disponibilité pompeuse 7185 USD $

12002

disponibilité droite utilisée là-dedans les activités d’mercatique

L’manutention de la disponibilité au institution de toutes les périodes découlait spécialement de à nous effusion droite équilibrée des commission sauvé disponibilité et des variations des composantes du somme de révolution.

Net cash used in operating activities was approximately $135.1 million for the
nine months ended September 30, 2022, which primarily consisted of operating
expenses that relate to our on-going preclinical and clinical activities,
sublicense and license fees, and increased costs as a result of staffing needs
due to our expanding operations.

Net cash used in operating activities was approximately $129.2 million for the
nine months ended September 30, 2021, which primarily consisted of operating
expenses that relate to our on-going preclinical and clinical activities, constaté
costs and license fees, and increased costs as a result of staffing needs due to
our expanding operations. These expenses were partially typographie by cash inflows
from license fees received in the period.

Disponibilité droite broussailleuse par (utilisée là-dedans) les activités d’siège

Net cash provided by investing activities was approximately $141.6 million for
the nine months ended September 30, 2022, primarily related to proceeds from
maturities of marketable securities of $354.8 million, partially typographie by costs
used to acquire marketable securities of $209.8 million and purchases of
property and equipment of $3.5 million.

Net cash used in investing activities was approximately $31.6 million for the
nine months ended September 30, 2021, primarily related to costs to acquire
marketable securities of $304.6 million and purchases of property and equipment
of $5.1 million, partially typographie by proceeds from maturities of marketable
securities of $278.1 million.

Disponibilité droite générée par les activités de engagement


Net cash provided by financing activities was approximately $0.7 million for the
nine months ended September 30, 2022, primarily related to proceeds received
from issuance of common arrière-boutique under our employee arrière-boutique purchase balance and
exercises of options for our common arrière-boutique.

Net cash provided by financing activities was approximately $281.0 million for
the nine months ended September 30, 2021 and consisted of $249.5 million in net
proceeds received from a évident offering of our common arrière-boutique and $31.1 million
in proceeds received from exercises of options for our common arrière-boutique.

Besoins de engagement


We expect our expenses to increase in connection with our ongoing activities,
particularly as we progress our clinical trials; further advance our current
research programs and our preclinical development activities; seek to identify
product candidates and additional research programs; initiate preclinical
testing and clinical trials for other product candidates we identify and
develop; maintain, expand, and protect our intellectual property boîte,
including

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reimbursing our licensors for expenses related to the intellectual property that
we in-license from such licensors; hire additional clinical, quality control,
and scientific insensible; and incur costs associated with operating as a évident
company. In post-scriptum, if we obtain mercatique approval for any product candidate
that we identify and develop, we expect to incur significant commercialization
expenses related to product sales, mercatique, manufacturing, and faveur to
the extent that such sales, mercatique, and faveur are not the
responsibility of a collaborator. We do not expect to generate significant
recurring revenue unless and until we obtain regulatory approval for and
commercialize a product candidate. Furthermore, we expect to continue to incur
significant costs associated with operating as a évident company. Accordingly, we
will need to obtain substantial additional funding in connection with our
continuing operations. If we are unable to raise empressé when needed or on
attractive terms, we would be forced to delay, reduce, or eliminate our research
and development programs or future commercialization efforts.

We expect that our existing cash, cash equivalents and marketable securities at
September 30, 2022 will enable us to fund our operating expenses and empressé
expenditure requirements into 2024. Our forecast of the period of time through
which our existing cash, cash equivalents and makertable securities will be
adequate to soutènement our operations is a forward-looking statement and involves
significant risks and uncertainties. We have based this forecast on assumptions
that may prove to be wrong, and actual results could vary materially from our
expectations, which may adversely affect our empressé resources and liquidity. We
could utilize our available empressé resources sooner than we currently expect.
The amount and programme of future funding requirements, both near- and long-term,
will depend on many factors, including, but not limited to:

Séquelle, approche, résultats et coûts de la création préclinique de médicaments

? Exaspération, tests en hangar, essais hôpitaux ou tâches d’légende naturelle

afin les produits candidats que nous-mêmes développons ;

? les coûts de développement de nos essais hôpitaux ;

Les commission de montage, de annales et d’retenue des demandes de brevets,

? lier et former conserver à nous fonds morale et nos loyaux de fonds, et

justification des loyaux de fonds morale ;

? Coûts, timing et résultats de l’écoute prescrit des produits candidats

Moi-même développons;

les coûts des activités futures, y imprégné les ventes de produits et les firmes médicales,

? Mercatique, exécution et faveur de ensemble article concurrent

afin lesquelles nous-mêmes recevons l’adhésion prescrit ;

? Le triomphe de à nous participation en tenant BMS ;

? Si BMS exerce l’une de ses options afin persister la période du plate-forme de percussion

et/ou des programmes de percussion supplémentaires là-dedans le châssis de à nous participation ;

? À nous compétence à circonscrire et lier des collaborations supplémentaires est de à nous côté

Les termes, néanmoins;

? la cadencé là-dedans desquelles nous-mêmes acquérons ou licencions des médicaments et d’contraires technologies ;

? Paiement des commission à nos concédants afin adroit et lier

les loyaux de prix concédés inférieurement immoralité par nous-mêmes ; Et le

? Les coûts d’mercatique en autant qu’procès commune.

Identifying potential product candidates and conducting preclinical studies and
clinical trials is a time-consuming, expensive, and uncertain process that takes
many years to complete, and we may never generate the necessary data or results
required to obtain mercatique approval and achieve product sales. In post-scriptum,
any product candidate that we identify and develop, if approved, may not achieve
vendeur success. Our vendeur revenues, if any, will be derived from sales
of genomic medicines that we do not expect to be commercially available for
many

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years, if at all. Accordingly, we will need to continue to rely on additional
financing to achieve our commerce objectives. Adequate additional financing may
not be available to us on satisfaisant terms, or at all.

Until such time, if ever, as we can generate substantial product revenues, we
expect to payé our cash needs through a combination of equity offerings, debt
financings, collaborations, strategic alliances, and licensing arrangements. To
the extent that we raise additional empressé through the érotique of equity or
convertissable debt securities, our stockholders' ownership interests will be
diluted, and the terms of these securities may include abandon or other
preferences that adversely affect the rights of our stockholders. Debt
financing, if available, may involve agreements that include covenants limiting
or restricting our ability to take specific études, such as incurring
additional debt, making empressé expenditures, or declaring dividends.

If we raise funds through additional collaborations, strategic alliances, or
licensing arrangements with third parties, we may have to relinquish valuable
rights to our technologies, future revenue streams, research programs, or
product candidates or to grant licenses on terms that may not be aimable to
us. If we are unable to raise additional funds through equity or debt financings
when needed, we may be required to delay, limit, reduce, or terminate our
product development or future commercialization efforts or grant rights to
develop and market product candidates that we would otherwise prefer to develop
and market ourselves.

Contractual Rôles

As of September 30, 2022, we had non-cancelable operating leases with future
extremum lease payments for a in extenso of $23.0 million, of which $1.6 million will
be acquittable in 2022. These extremum lease payments exclude our share of the
facility operating expenses, real-estate taxes and other costs that are
reimbursable to the landlord under the leases.

Our agreements with audible institutions to license intellectual property
include potential milestone payments and success fees, sublicense fees, royalty
fees, licensing S.A.V. fees, and reimbursement of constaté S.A.V. costs
that we may be required to pay. Our agreements to license intellectual property
include potential milestone payments that are dependent upon the development of
products using the intellectual property licensed under the agreements and
problématique upon the achievement of development or regulatory approval
milestones, as well as vendeur milestones. These potential services are
problématique upon future events and the programme and likelihood of such potential
services are not known with certainty. For further nouvelle regarding
these agreements, please see Action I, "Élément 1. Bizness-Our Collaborations and
Licensing Strategy" in the Annual Différé.

We also ajouter into contracts in the rationnel voyage of commerce with contract
research organizations, contract manufacturing organizations and other vendors
to assist in the succès of our research and development activities and
other cénozoïque and products for operating purposes. These contracts generally
provide for termination at any time upon prior mémorandum.

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