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TRDA

Entrada Therapeutics, Inc.

TRDA

Entrada Therapeutics, Inc. • NASDAQ
$10.27 ▲ 1.88% (+0.19)
Market Cap $392.51 M
52w High $21.79
52w Low $4.93
Dividend Yield 0%
P/E -4
Volume 141.41K
Outstanding Shares 38.22M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.614M ▼ $10.304M ▼ $-44.134M ▼ -2.734K% ▼ $-1.06 ▼ $-42.25M ▲
Q2-2025 $1.95M ▼ $48.799M ▲ $-43.103M ▼ -2.21K% ▼ $-1.04 ▼ $-45.815M ▼
Q1-2025 $20.558M ▼ $42.348M ▼ $-17.349M ▼ -84.391% ▼ $-0.42 ▼ $-20.844M ▼
Q4-2024 $37.398M ▲ $43.265M ▲ $1.131M ▲ 3.024% ▲ $0.028 ▲ $-4.875M ▲
Q3-2024 $19.57M $41.228M $-14.032M -71.702% $-0.35 $-20.721M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $326.838M ▼ $412.898M ▼ $72.182M ▲ $340.716M ▼
Q2-2025 $354.012M ▼ $448.783M ▼ $69.278M ▲ $379.505M ▼
Q1-2025 $382.515M ▼ $486.479M ▼ $69.219M ▼ $417.26M ▼
Q4-2024 $419.998M ▼ $526.321M ▼ $97.643M ▼ $428.678M ▲
Q3-2024 $449.344M $554.59M $132.143M $422.447M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-44.134M ▼ $-28.313M ▲ $49.109M ▲ $8K ▼ $20.804M ▲ $-28.142M ▲
Q2-2025 $-43.103M ▼ $-29.489M ▲ $33.797M ▲ $337K ▼ $4.645M ▲ $-29.764M ▲
Q1-2025 $-17.349M ▼ $-38.507M ▼ $4.783M ▼ $350K ▼ $-33.374M ▼ $-39.651M ▼
Q4-2024 $1.131M ▲ $-31.605M ▼ $53.365M ▲ $1.402M ▲ $23.162M ▲ $-32.24M ▼
Q3-2024 $-14.032M $-24.266M $-82.927M $-11K $-107.204M $-24.905M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
License
License
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Entrada is still in the early, pre‑commercial stage, so its income statement is driven mainly by collaboration and milestone payments, not recurring drug sales. Revenue only began to appear recently and remains modest in absolute terms. The notable shift is that the company has moved from steady losses in earlier years to a small profit most recently. That improvement likely reflects the Vertex partnership economics and tight cost control more than a fundamental shift to a durable, product-based business. Profitability at this stage should be seen as fragile and highly dependent on deal timing rather than ongoing commercial strength. R&D and other operating expenses are still significant, as expected for a clinical‑stage biotech. As trials expand or new programs launch, these costs can climb quickly and push results back into the red if partnership revenue moderates.

Balance Sheet

Balance Sheet The balance sheet looks relatively healthy for an early-stage biotech. Total assets and shareholders’ equity have grown meaningfully over the last few years, helped by partnership funding and equity capital. The move from negative equity in the past to a solid positive equity base today is a key de‑risking milestone. Cash and investments make up a large share of assets, which is typical for a company without marketed products. Management and external commentary suggest this cash provides a multi‑year operating runway, which reduces near‑term financing pressure. Debt remains modest compared with the overall asset base, so leverage is not a central concern right now. The main balance sheet risk is not over-indebtedness but the long timeline and uncertainty of drug development relative to the existing cash runway.

Cash Flow

Cash Flow Cash flow patterns reflect a company investing heavily in development. Historically, operating cash flow was negative as Entrada funded R&D and overhead from capital raises and collaborations. More recently, operating cash flow briefly turned positive, then moved slightly negative again. This swing likely stems from the timing of large upfront and milestone payments rather than from a self-sustaining business. Free cash flow shows a similar pattern, with only minor capital spending, so the main cash use is research and operations. Overall, cash burn appears manageable relative to the current balance sheet, but it is still a burn: the business is not yet financed by recurring product revenue. Future clinical expansion could push cash needs higher, especially if new large partnerships are not signed on similar terms.

Competitive Edge

Competitive Edge Entrada’s competitive position centers on its proprietary intracellular delivery platform, not on a diversified portfolio of marketed drugs. The Endosomal Escape Vehicle technology aims to solve a key bottleneck in genetic medicines: getting large molecules into cells and out of endosomes efficiently. This approach, if it works in humans as it has in preclinical models, could offer a meaningful performance advantage over standard delivery technologies, especially in diseases like Duchenne muscular dystrophy and myotonic dystrophy type 1. The broad applicability of the platform across disease areas is another important strategic strength. The collaboration with Vertex is a major validation point. It brings external scientific endorsement, development expertise, and non‑dilutive funding. At the same time, Entrada operates in a crowded and fast-moving field, with many companies working on different ways to deliver genetic medicines inside cells. The company’s moat is therefore promising but still unproven at commercial scale, and competition from other delivery platforms remains a key strategic risk.

Innovation and R&D

Innovation and R&D Innovation is the core of Entrada’s story. The EEV platform is designed to dramatically improve intracellular delivery of oligonucleotides and potentially other large therapeutics. This is a high‑impact technical problem: solving it could unlock treatment options for diseases previously considered out of reach. The pipeline strategy is focused but multi‑pronged. Several programs in Duchenne muscular dystrophy leverage the same platform to target different patient subgroups, aiming for deeper muscle penetration and stronger protein restoration than current exon-skipping drugs. The partnered program in myotonic dystrophy type 1 serves as both a scientific and commercial test of the technology with a blue‑chip partner. Entrada is also working on next‑generation versions of its delivery technology and exploring new disease areas such as ocular and metabolic conditions. This layering of first‑generation and next‑generation platforms can deepen the moat if successful, but it also keeps R&D intensity high and extends timelines. The major uncertainties are classic biotech risks: clinical efficacy, safety, and regulatory outcomes remain to be demonstrated in larger patient groups.

Summary

Entrada Therapeutics is a classic platform biotech story: a promising delivery technology, a focused but expanding pipeline in serious genetic diseases, and early validation through a large pharmaceutical partnership. Financially, it has transitioned from persistent losses to a recent period of modest profitability and healthier cash flow, but that improvement is primarily partnership-driven and not yet backed by product sales. The balance sheet and cash runway look solid for a clinical‑stage company, easing near‑term funding worries. However, the business remains inherently high risk: future results will depend heavily on clinical trial outcomes, regulatory decisions, and the ability to convert its platform into successful, approved products. In short, Entrada offers substantial scientific and strategic upside if its EEV platform delivers on its promise, but its financial profile and competitive standing are still those of an early, high‑uncertainty biotech, not a mature commercial enterprise.

NEWS

November 6, 2025 · 7:00 AM UTC

Entrada Therapeutics Reports Third Quarter 2025 Financial Results

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October 28, 2025 · 7:00 AM UTC

Entrada Therapeutics to Present at Upcoming Investor Conferences

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September 5, 2025 · 7:00 AM UTC

Entrada Therapeutics Announces Recipients of Third Annual DREAMS Grant Program

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September 2, 2025 · 4:30 PM UTC

Entrada Therapeutics Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

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